According to COINOTAG News on April 29, co-founder of Material Indicators, Keith Alan, emphasized that Bitcoin will face significant challenges when it recovers in early 2025. The key price level of approximately $93,500 is an important indicator for future market trends. After slightly falling below this threshold at the weekly close, Alan expressed concerns about potential increased volatility in the short term. However, he pointed out that successfully retesting this support level could have a positive impact on Bitcoin's price. Alan emphasized the necessity of maintaining the stability of the 21-week simple moving average (SMA) and highlighted the importance of the current price area as a key focus for traders and investors. Understanding these technical details is crucial for effectively navigating the cryptocurrency space.
