In its latest assessment, the company MakroVision, which specializes in cryptocurrency analysis, highlighted critical levels affecting the price movement of Bitcoin.
According to the analysis, despite the gradual recovery of Bitcoin after the recent sharp sell-off, it continues to trade slightly below the critical resistance zone in the short term.
MakroVision noted that the range from $72,000 to $75,000 has become a key market segment. Although a breakout above this level could accelerate the upward trend, the current price dynamics do not yet confirm a strong trend reversal.
The analysis notes that the overall technical outlook remains bearish. Although Bitcoin is currently in a phase of 'technical recovery' after previously breaking key support levels, the fact that the price has moved away from the $59,000 level and is starting to test critical zones again is considered a positive event in the short term. However, the sustainability of this growth will depend on overcoming the resistance zone.
When assessing support and resistance levels, the range of $59,000–$61,000 is highlighted as the main support zone. It is claimed that if this level is held, the recovery may continue, while a potential downside breakout could quickly increase selling pressure, potentially leading to a retest of the lows. On the other hand, the range of $72,000–$75,000 is defined as the most important resistance zone, and a sustained breakout above this level could potentially push the price up to $85,500, and then to $91,700.
According to MacroVision, the most important scenario in the short term will be whether Bitcoin can recover in the range of $72,000–$75,000. A breakout above this level will be considered a strong signal of recovery, while the current rejection of this level suggests that the movement may just be a reaction to the overall decline.
*This is not an investment recommendation.