Cryptocurrency analysis company MakroVision examined Bitcoin's current price movements in its latest technical analysis report. The company said that Bitcoin, which fell to around $75,000 last week, found strong support in this area and then entered a dynamic recovery process. However, it is not yet clear whether this rise is sustainable. According to MakroVision, Bitcoin has turned bullish from the green trend lines around $75,000, while the downward structure in recent weeks has been more of a correction. Related News: “Stay Away If Bitcoin Rises to This Level,” Says CEO of Analysis Company! “It Could Be a Big Bull Trap” According to the analyst firm, for the rally to continue, Bitcoin needs to break out of the resistance cluster at $87,600-$89,900. This area, combined with the red falling trend line, forms a critical barrier. The firm notes that a sustained break above this level could signal a clear trend reversal, something not seen in months. In the short term, the $81,300 level stands out as a significant support point. According to analysts, a possible pullback below this level could significantly weaken the current bullish momentum. Technical analysis chart shared by MakroVision. *This is not investment advice. Continue Reading: Where Are the Next Critical Zones in Bitcoin? Here’s the Cluster of Resistance That Must Be Overcome
