Cryptocurrency analysis firm MakroVision has shared its latest technical assessment of Bitcoin.
The company, which had made an upward forecast in its reports dated April 23, stated that the price's progress towards the $ 105,000 level was exactly in line with its analysis.
Bitcoin is currently facing strong resistance at around $105,000, and a sustained breakout of this area could open up new momentum for the rally, according to MakroVision.
In the short term, the $102,000 level stands out as an important support level. Below this level, the next support is located in the areas indicated by the orange lines on the charts.
MakroVision analysts argued that Bitcoin continues to move in line with their analysis and stated that the current technical outlook remains strong. The company believes that the rally can continue if previous peaks are overcome, while short-term corrections are positive for market health.
At the time of writing, BTC is trading at $103,600.
*This is not investment advice.
