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BitcoinSistemi 2024-11-30 08:32:07

Analytics Company Shares Key Price Levels That Will Determine Bitcoin’s Fate

Cryptocurrency analytics firm MarktQuant has outlined the critical levels in Bitcoin’s price trajectory and outlined the key areas that investors should closely monitor. The firm’s latest analysis highlights the importance of the $98,400 resistance level for bullish momentum, as well as potential support levels that could trigger significant market reactions. According to MarktQuant, the biggest challenge for Bitcoin is the resistance at $98,400. The price needs to break out of this level to resume the uptrend. Failure to do so could lead to a pullback and potentially test support in the $90,000-$92,000 range. BTC price is trading at $97,500 at the time of writing. Related News: Wells Fargo Predicts How Many Times the Fed Will Cut Interest Rates in 2025 MarktQuant expects fresh buying interest to emerge around $90,000-$92,000 in the event of a pullback. This range also represents a critical area for futures traders, especially those using high leverage (around 16.67x or higher), and they will likely place stop-loss orders here. According to the analytics firm, if Bitcoin were to fall into this zone, the market could experience a drop of around 6.5%, which could trigger significant liquidations and increase volatility. MarktQuant’s analysis also highlighted significant liquidation clusters. The firm noted significant movement in the $94,000-$96,000 range, where leveraged positions, particularly long liquidations, are concentrated. These areas act as magnets for market volatility as prices approach these thresholds. *This is not investment advice. Continue Reading: Analytics Company Shares Key Price Levels That Will Determine Bitcoin’s Fate