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🚀💰Where is Bitcoin heading? This is a price rise potential level that needs attention 📈📉
The cryptocurrency analysis platform MakroVision has released a significant assessment regarding the recent price fluctuations of Bitcoin. The analysis points out that Bitcoin reached a new historical high of $112,000 before entering a technically healthy adjustment process.
MakroVision emphasizes that the initial Fibonacci 61.8% resistance level at $111,260 has pushed the price back, but the current pullback is limited to about 5%. There are currently no signs indicating a strong downward trend.
Experts point out that Bitcoin has found strong support at the following technical levels:
• 103,200 USD: The Fibonacci retracement level of 23.6% is currently being maintained.
• $102,000: This level has previously acted as a resistance level and is now a potential support area.
• $97,700: Aligns with Fibonacci 38.2% level, this area forms a strong support cluster with the $98,600 level.
According to MakroVision's analysis, a re-test of the $112,000 level for Bitcoin will once again confirm the market's strength. If this level is broken, the next target will be $121,100.
However, from the perspective of downside risk, it is important to emphasize that Bitcoin is still in a rise trend structurally, as long as the price does not fall below $97,700.