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CryptoQuant Highlights Two Levels for Bitcoin: If the Rise Continues, It May Cause Trouble! - Coin Bulletin
As the Bitcoin price recovers, analysts are pointing out the levels of 84 thousand and 96 thousand dollars.
The crypto analysis platform CryptoQuant pointed out critical resistance levels in its new report on the technical outlook of Bitcoin. Analysts noted that if the price of Bitcoin continues to rise, the 84k and 96k dollar regions could serve as resistance.
The U.S. President Donald Trump's suspension of tariffs imposed on countries other than China for 90 days has provided short-term relief in the market. However, according to CryptoQuant's assessment, despite Bitcoin's recovery, the market still exhibits a weak outlook. In particular, the Bull Score Index remaining at 10 points draws attention as the lowest level since November 2022. This raises serious questions about the sustainability of the uptrend.
Critical support and resistance zones
The recent drop of Bitcoin to 74 thousand dollars and then recovering to hold at the 365-day moving average of 76.1 thousand dollars has shown that this level is functioning as a strong support again. The same average had worked similarly in 2021 and 2024. However, CryptoQuant warns that a permanent fall below this level could be a signal of a potential bear market.
If the rise continues, the first resistance point that Bitcoin may face is 84 thousand dollars, followed by the 96 thousand dollars level. These areas, which previously served as support according to the Trader Realized Price indicator, could now become resistance. This situation was also seen in earlier bear cycles.
What is needed for the continuation of the rise?
In order for Bitcoin to re-enter a strong bull cycle, investor sentiment must strengthen and the Bull Score Index must rise above the 40 level. CryptoQuant states that the impact of Trump's tariff decisions on the market can be seen more clearly in the coming days, and these developments may determine the price action.
The price of Bitcoin is currently trading around 82 thousand dollars.