What’s Next for Bitcoin? Here’s What You Need to Know

The cryptocurrency analysis company MakroVision has shared a noteworthy analysis of Bitcoin's technical outlook in its latest assessment. The company claims that Bitcoin is currently approaching a critical decision point after several weeks of sideways volatility. According to MakroVision, Bitcoin is moving in a narrowing triangle between $102,000 and $110,000. This structure indicates hesitation between buyers and sellers in the market. Bitcoin, which has lost momentum after its recent peak of $112,000, is looking for a direction. In the short term, the most important support level is $102,000. If this level is broken, the range of $98,600–$97,700 (the Fibonacci retracement level 0.382) may take effect. To have a bullish move, the 109,500 dollar level needs to be broken permanently. If this happens, the upward momentum could be regained. MakroVision notes that the current narrowing price range may soon lead to a breakout, sharing the following levels: Surpassing the level of 109,500 dollars: Strong bullish signal Surpassing the threshold of 102,000 dollars: A deeper price correction