Bitcoin Price at a Critical Juncture: Analysis Company Shared Its Predictions!

Crypto analysis firm MakroVision stated in its latest report evaluating the technical outlook of Bitcoin’s (BTC), that the largest crypto has reached a critical threshold.

The analysis points out that Bitcoin has established a strong structure in recent weeks, while it is claimed that a potential breakout in the short term could determine the direction.

According to MakroVision's technical analysis, the Bitcoin price is currently approaching the red trend line, which has acted as a strong resistance for weeks. It is stated that there is a high amount of liquidity in the range of 111,000–112,000 dollars above this level.

On the support side, two main areas stand out:

• The range of 106,400–107,400 dollars is being monitored as short-term support.
• The band of 105,000–102,000 dollars below this level is defined as a larger demand zone.

MakroVision states that if Bitcoin makes a sustained breakout above the $110,000 level, a new upward momentum could begin. However, if a rejection occurs from this level, the price's response and whether the support areas can be maintained will be decisive for the market's direction.