Cryptocurrency analysis company MakroVision, evaluating recent price movements in Bitcoin, noted that downward pressure in the market continues.
The company’s analysis stated that Bitcoin’s recent attempt at a recovery failed to break through critical resistance levels and was met with renewed selling pressure. This, it argued, confirms the overall downward trend.
According to MacroVision, the Bitcoin price is clearly in a downtrend, forming lower peaks. The fact that every upward rebound attempt has so far been decisively sold off indicates that the market’s outlook remains weak.
The analysis stated that the movement seen since the November 21st low was of a corrective nature and did not generate strong momentum for continuation. Deep counter-movements within the internal structure and lack of momentum were cited as factors limiting the bullish scenarios.
According to the analysis firm, the $91,700–$92,000 range stands out as a critical decision zone in the short term. MacroVision warned that if Bitcoin fails to rise above this level again, lower liquidity zones may come into play. In terms of the medium-term outlook, the analysis stated that the market could only significantly ease if the $102,000–$105,000 band is surpassed. It argued that a cautious stance should be maintained as long as these levels are not breached.
*This is not investment advice.
