Cryptocurrency analysis company MakroVision examined Bitcoin's current price movements in its latest technical analysis report.
The company said that Bitcoin, which fell to around $75,000 last week, found strong support in this area and then entered a dynamic recovery process. However, it is not yet clear whether this rise is sustainable.
According to MakroVision, Bitcoin has turned bullish from the green trend lines around $75,000, while the downward structure in recent weeks has been more of a correction.
According to the analyst firm, for the rally to continue, Bitcoin needs to break out of the resistance cluster at $87,600-$89,900. This area, combined with the red falling trend line, forms a critical barrier. The firm notes that a sustained break above this level could signal a clear trend reversal, something not seen in months.
In the short term, the $81,300 level stands out as a significant support point. According to analysts, a possible pullback below this level could significantly weaken the current bullish momentum.
*This is not investment advice.
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