Bitcoin is testing critical support! What can we expect in the short term?

Cryptocurrency News - When we examine the Bitcoin price outlook, at least in the short term, the outlook has not changed. As we have emphasized in our previous analysis contents, we are largely within a bull market. During a bull market, it is quite normal to see short-term pullbacks and sideways price movements. The Bitcoin price is currently in a retracement period as many indicators are turning negative. In particular, we have confirmed a new downward crossover in the Bitcoin MACD indicator.

At the time of writing, the Bitcoin price has confirmed a break below the $95,000 level that we have been focusing on for weeks. This indicates that the $95,000 region has become a new resistance point. Crypto analyst Michael Van de Poppe says that the markets are moving towards a liquidity test in Bitcoin. He positions this level below $93,400. In other words, he defines the range of $87,000 to $93,000 as a long-term entry zone. He expects the Bitcoin price to rise to $104,000 after testing these zones.

*The markets are heading towards a liquidity test in Bitcoin. This level starts below $93,400. Below this area = long entry zone. After that, a likely upward reversal awaits us. Bitcoin needs to take all the liquidity. This is what we are doing right now. The extreme point? $83-87,000. Then we should turn upwards. The current sentiment is making an extremely downward peak, so this is likely the case.

The information in the text is purely for informational purposes. It does not constitute any investment advice. Author and kriptoparahaber.com are not responsible for the profit or loss arising from your investments. Ultimately, investment is based on many factors such as knowledge, experience, research, and personal decisions.

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