After the sudden rise, the current technical analysis company of Bitcoin publishes - here is the area that needs to be surpassed to start the rise. Bitcoin has experienced a strong increase again by easily breaking through the resistance level at $95,900. Eyes are now on the next major resistance level at $98,600.
Macrovision described Bitcoin's recovery from around $75,000 as "remarkable". In particular, the breakout of the red downward trend line stood out as a technical development that sparked the current rise.
In the analysis, it was noted that the $98,600 level was an important liquidity area, and if this level is surpassed, BTC could head towards higher target areas such as $102,000 and $106,400.
On the other hand, it is said that the first important support level for Bitcoin is now at $91,700. In case of a potential drop below this level, the support area around $87,500 will maintain its significance.
At the end of the analysis, Macrovision stated that Bitcoin is moving towards the next resistance level, while drawing investors' attention to the question: "Will Bitcoin be able to achieve the next breakout or will there be a correction wave?"
