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BitcoinSistemi 2025-02-04 22:13:07

What Are the Critical Resistance and Support Levels Ahead for Bitcoin Price? Analysis Company Identified

Cryptocurrency analytics firm MakroVision has assessed Bitcoin’s price action following its recent rally, identifying key resistance and support levels that could determine its next trend. After a significant sell-off, Bitcoin has recovered strongly and is currently trading around $99,000. However, key resistance levels that could influence further price action remain in focus. MakroVision notes that the $102,000 level represents a short-term barrier and is just above a key liquidity zone that needs to be breached for further upside. The firm also notes that a breakout of the descending red trendline would activate a decisive breakout target at $106,500, which is in line with the previous intermediate high. Related News: Unusual Move by the Gigantic Whale - Withdraws $10 Million from Binance, Converts It All to This Altcoin On the support side, MakroVision emphasizes that a drop below $98,600 would shift attention to the $95,900 level. In addition, the $91,700 level provided strong support during the recent sell-off and a retest of this level could indicate increasing bearish pressure. MakroVision observes that the current V-shaped recovery points to bullish strength but remains below the red trendline. The firm notes that a breakout is needed to target the next milestone at $106,500. However, if Bitcoin breaks below $98,600, the focus will shift to the $95,900 support level. *This is not investment advice. Continue Reading: What Are the Critical Resistance and Support Levels Ahead for Bitcoin Price? Analysis Company Identified