The Crypto analysis firm MakroVision shared a remarkable assessment regarding the recent price movements of Bitcoin.
According to the company’s analysis, BTC has easily surpassed the resistance level at $95,900, signaling a strong upward movement once again. Eyes are now turned to the next significant resistance area at $98,600.
MakroVision described the recovery process of Bitcoin, starting from around $75,000, as “impressive”. Especially, the breaking of the red downtrend line stood out as a technical development that ignited the current rise.
The analysis highlights that the $98,600 level is an important liquidity area, and if this level is surpassed, it was noted that BTC could aim for higher target areas such as $102,000 and $106,400.
On the other hand, it was argued that the first significant support level for Bitcoin is now at 91,700 dollars. In the event of a possible decline below this level, the support area around 87,500 dollars continues to maintain its importance.
At the end of the analysis, MakroVision noted that Bitcoin is progressing towards its next resistance level, drawing investors’ attention to the following question: “Will BTC be able to achieve the next breakout, or is a new correction wave coming?”
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