On the 29th of March 2023, according to Cointelegraph, Material Indicators co-founder Keith Alan emphasized the important position Bitcoin is striving to return to, which is around $93,500, a key focus for future trends. A brief dip below this price level after the weekly close has raised concerns for Alan.

He stated: "This is also one of the reasons why I believe there could be more downward volatility." However, he also acknowledged that a successful retest of the support level could have a positive impact. Alan further added that he hopes Bitcoin's 21-week Simple Moving Average (SMA) can hold, but the current price is in a "critical zone."