Ali Martinez, one of the well-known analysts of the cryptocurrency world, spoke in his statement about what he expected after the decline in Bitcoin.
In a message to his followers, Martinez claimed that the TD Sequential data on Bitcoin’s hourly chart started to give a bullish signal. He added that this signal was formed just above the 200-hour moving average and the trend line, around $97,000. According to the analyst, if the support level at $97,000 and around can hold, the BTC price could bounce back.
However, the analyst noted that if there is a break below $97,000, there will be a possibility of a drop to the $92,000 level.
However, the analyst, citing onchain data, said that the BTC price also has an important support zone between $ 95,400 and $ 98,400, and that 1.77 million addresses purchased 1.53 million BTC from this zone. However, he claimed that no serious resistance level was seen on the upper side, only a small resistance zone of 107,000 BTC between $ 104,700 and $ 105,770.
*This is not investment advice.
