Cryptocurrency Market Update

The cryptocurrency market is witnessing renewed weakness as Bitcoin has dropped below the $95,900 support level after multiple tests, according to a recent analysis by MakroVision.

Key Levels to Watch

Traders are keeping a close eye on the next major support area to determine whether the decline will continue. The latest chart analysis highlights an ongoing downtrend, with Bitcoin struggling to break above key resistance levels and remaining within a descending trend channel. The following levels have been identified as crucial:

• $98,600: Repeated failures to break this level make it a significant barrier.
• $102,000: A sustained break above this area would confirm a bullish scenario.
• $91,700: This major support zone holds significant liquidity, and a bounce here could stabilize the market.
• $87,500 to $89,900: If Bitcoin fails to maintain this range, further downside pressure could emerge.

MakroVision analysts warn that a drop below $91,700 could lead to another sell-off.

> This is not investment advice.