A recent report by MakroVision provides a detailed technical analysis of the Bitcoin situation. Analysts highlighted critical price levels and possible market scenarios.
Current Bitcoin Situation
MakroVision specialists noted that Bitcoin has formed a strong price structure in recent weeks. However, a breakout in the short term could significantly impact the direction of future price movements.
Resistance Levels
Bitcoin is currently approaching a red trend line that has acted as strong resistance for an extended period. A breakout above this level may open the path to high liquidity in the $111,000–$112,000 range.
Support Levels and Possible Scenarios
On the support side, two main areas stand out: * The $106,400–$107,400 range, regarded as short-term support. * The $105,000–$102,000 band below this level defined as a larger demand zone.
MakroVision suggests that if Bitcoin can maintain above the $110,000 level, this could initiate new upward momentum. Conversely, the reaction of the price to support level tests will be crucial for determining market direction.
MakroVision's analysis emphasizes critical Bitcoin levels that could influence its future dynamics. Traders need to observe price behavior in these areas to assess potential scenarios.
