The recent statement from analyst EGRAG Crypto sparked a fresh debate in the crypto community. The expert declared that investors should not start celebrating until Bitcoin reaches and closes above $90,000.
Support at $81,300
EGRAG emphasizes that Bitcoin must hold above $81,300 to maintain a short-term bullish structure. This level acts as a base of strength that buyers are expected to defend aggressively. Failing to maintain this support may signal weakness and the possibility of a larger retracement before any upward continuation.
Key Signal at $90,000
The analyst highlights the need for a three-day candle close above $90,000 to truly confirm bullish continuation. This level holds special significance in his technical model as a point where sustained momentum could emerge. A close above $90,000 would indicate that Bitcoin has successfully cleared a key resistance band, allowing traders to prepare for a much stronger rally.
Psychological Levels and Potential Achievements
EGRAG also mentions key price levels. For instance, $97,000 aligns with the Fibonacci 0.702 retracement level and serves as both a psychological and technical barrier. Clearing this level would suggest that Bitcoin is ready to invalidate bearish retracement possibilities and aim for new all-time highs. A close above $103,000 would represent the ultimate confirmation of strength in this cycle.
In conclusion, EGRAG Crypto advises investors to remain vigilant and watch key levels before making any conclusions about potential growth. There are clear warnings about the risks of early celebration, and adherence to technical criteria remains crucial for Bitcoin's sustainable growth.
