Following the Surge, Analysis Company Publishes Current Bitcoin Technicals – Here’s the Area That Needs to Be Surpassed for the Rally to Begin
Cryptocurrency analytics firm MakroVision has shared a remarkable assessment of Bitcoin’s recent price movements.
According to the company’s analysis, BTC has signaled a strong rally again by easily breaking through the resistance level at $95,900. All eyes are now on the next major resistance area at $98,600.
MakroVision described Bitcoin’s recovery from around $75,000 as “impressive.” In particular, the breakdown of the red downtrend line stood out as the technical development that ignited the fuse of the current rise.
In the analysis, it was noted that the $98,600 level was an important liquidity area, and that if this level was exceeded, BTC could head towards higher target areas such as $102,000 and $106,400.
On the other hand, it has been argued that the first important support level for Bitcoin is now at $91,700. In case of a possible decline below this level, the support area around $87,500 continues to maintain its importance.
At the end of the analysis, MakroVision stated that Bitcoin is moving towards the next resistance level, while drawing investors\’ attention to the question: “Will BTC be able to achieve the next breakout or is a new correction wave coming?”
*This is not investment advice.
