In its latest technical analysis of the Bitcoin price, cryptocurrency analytics company MakroVision reported that the first constructive signals are beginning to appear in the market.
According to the analysis, Bitcoin has surpassed a significant technical threshold by regaining its strong support zone between $93,200 and $94,200 following recent sharp sell-offs.
MacroVision emphasizes that a positive retest of this region by the price in the short term is critical. If Bitcoin holds above this range, the bullish momentum will be maintained, and the likelihood of the price continuing its upward movement will increase. In this scenario, the market is expected to enter a recovery phase.
On the upside, analysts note that the next liquidity zone will become the target. Above that, the upper red trend line, intersecting with the $105,450 level, stands out as the most significant resistance cluster in the short term and forms the potential maximum target zone.
On the other hand, MakroVision also points to downside risks. According to the analysis, a strong break below the $91,700 level would significantly weaken the upward momentum and create a clear warning signal for the market.
*This is not investment advice.
