What Are the Critical Resistance and Support Levels Ahead for Bitcoin Price? Analysis Company Identified

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Cryptocurrency analytics firm MakroVision has assessed Bitcoin’s price action following its recent rally, identifying key resistance and support levels that could determine its next trend.

After a significant sell-off, Bitcoin has recovered strongly and is currently trading around $99,000. However, key resistance levels that could influence further price action remain in focus.

MakroVision notes that the $102,000 level represents a short-term barrier and is just above a key liquidity zone that needs to be breached for further upside. The firm also notes that a breakout of the descending red trendline would activate a decisive breakout target at $106,500, which is in line with the previous intermediate high.

On the support side, MakroVision emphasizes that a drop below $98,600 would shift attention to the $95,900 level. In addition, the $91,700 level provided strong support during the recent sell-off and a retest of this level could indicate increasing bearish pressure.

MakroVision observes that the current V-shaped recovery points to bullish strength but remains below the red trendline. The firm notes that a breakout is needed to target the next milestone at $106,500. However, if Bitcoin breaks below $98,600, the focus will shift to the $95,900 support level.

*This is not investment advice.

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