Cryptocurrency analysis platform MakroVision has published a remarkable assessment of Bitcoin’s recent price movements.
The analysis noted that Bitcoin reached a new all-time high by rising to $112,000, and then entered a technically healthy correction process.
MakroVision emphasized that the 61.8% Fibonacci resistance at $111,260 initially turned the price back, but this pullback is currently limited to around 5%. There are no signs of a sharp decline in the downward movement at the moment.
Experts note that Bitcoin has found strong support at the following technical levels:
According to MakroVision’s analysis, Bitcoin retesting $112,000 would reaffirm the market’s strength, with $121,100 the next target if this level is breached.
However, in terms of downside risks, it is emphasized that Bitcoin is still structurally in an uptrend as long as it does not fall below $97,700.
*This is not investment advice.
Continue Reading: Where is Bitcoin Headed Next? Here Are the Levels to Watch for a Potential Rally
Go to Source
Author: NixCoin
Key Highlights The US Department of Justice charged six individuals accused of running an NFT…
Key Highlights Crypto.com and OG.com launched continuous, non-expiring crypto perpetual contracts for eligible U.S. traders…
AI SummaryShowCircle and ACI pilot USDC settlement in Colombia, signalling stablecoins’ entry into traditional real‑time…
AI SummaryShowCFTC’s renewed probe could force stricter user‑location verification, prompting industry‑wide compliance upgrades.Potential enforcement may…
Key Highlights VanEck has introduced the Wealth Builder ETF (WBMO), an actively managed fund investing…
Elon Musk’s Grok AI predicts an astonishing XRP price by January 1, 2027. It forecasts…
This website uses cookies.
Read More