Cryptocurrency analysis company MakroVision made important assessments regarding price movements in its latest report for Bitcoin (BTC). According to the report, Bitcoin maintains its short-term downtrend and is making its first attempt at stability in the Golden Pocket (0.618–0.665 Fibonacci) region after testing the level. Analysts pointed out that a short-term recovery could begin at any time, and that the real question is how sustainable this movement will be. If the recovery is impulsive (strong and accelerating), it is stated that BTC's next target may be lower peaks. However, if the recovery remains a correction, the price may decline back towards lower support levels. Related News: Ripple (XRP) Announces Major Partnership in the Payment Sector The critical point highlighted by MakroVision is the $115,800 level. The report warned that a break above this resistance level could herald a strong and sustained rally, but a weak recovery would still pose a risk of a new sell-off in the market. At the time of writing, it is trading at $110,770. *This is not investment advice. Continue Reading: Analysis Firm Reveals the Most Critical Level Following Recent Movements in Bitcoin: “This Level is Decisive”
