Technical Outlook for Bitcoin
Cryptocurrency analytics company MakroVision has reported that the first constructive signals are beginning to appear in the Bitcoin market.
According to their latest technical analysis, Bitcoin has successfully surpassed a significant technical threshold by regaining its strong support zone, which lies between $93,200 and $94,200, following recent sharp sell-offs.
Critical Support and Upside Potential
MakroVision emphasizes that a positive retest of this support region by the price in the short term is critical for continued bullish momentum. If Bitcoin manages to hold above this range, the upward movement is expected to be maintained, increasing the likelihood of further price appreciation. In such a scenario, the market is anticipated to enter a recovery phase.
On the upside, analysts have identified the next liquidity zone as a potential target. Beyond that, the upper red trend line, which intersects with the $105,450 level, is highlighted as the most significant resistance cluster in the short term, forming the potential maximum target zone for the price.
Downside Risks and Warning Signals
Conversely, MakroVision also points to potential downside risks. The analysis indicates that a strong break below the $91,700 level would significantly weaken the current upward momentum and serve as a clear warning signal for the market.