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What Does the Future Hold for Bitcoin in the Coming Days? Here are the Key Points to Know
Crypto analysis company MakroVision shared a remarkable analysis regarding the technical outlook of Bitcoin in its latest assessment. The company states that Bitcoin is approaching a critical decision point with its horizontal movement that has been ongoing for weeks.
According to MakroVision, Bitcoin is moving within a contracting triangle formation between 102,000 and 110,000 dollars. This structure indicates that there is indecision between bulls and bears in the market. The search for direction of Bitcoin, which has lost momentum after the last peak of 112,000 dollars, is noteworthy.
The most critical support level in the short term stands out at 102,000 dollars. If this level is broken, the 98,600–97,700 dollar range ( 0.382 Fibonacci retracement level ) may come into play.
For an upward movement, the level of 109,500 dollars needs to be permanently surpassed. If this happens, an upward momentum can be regained.
MakroVision pointed out that the current narrowing price range could soon lead to a breakout, sharing the following levels:
*It is not investment advice.
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