Bitcoin has recently shown wavy movements and approached critical levels. The $ 97,828 resistance and $ 64,078 support stand out as decisive levels for investors. As the uncertainty in the market continues, it can shape the future of price movements, which Bitcoin is closer to these two levels.
Critical support and resistance levels for Bitcoin
Bitcoin is seen to face strong resistance at the level of $ 97,000. 360.470 BTC has accumulated in this region and a large purchase wave is required to overcome the price. Looking at past data, such intense accumulation areas can often be broken with ETF flows or a strong bull movement.
On the other hand, the level of 64 thousand dollars is seen as a strong support point. There are 194,530 BTCs here, and when the price approaches this area, it is estimated that buyers can come into play by limiting the decline. However, if this level is lost, Bitcoin’s risk of falling up to $ 55,000 may increase.
The 50 -week moving average is important?
Looking at the historical price movements of Bitcoin, the 50 -week moving average (MA) seems to be a strong support point. Currently, this is at an average of $ 74,700, and it is of great importance whether Bitcoin can hold here.
In the past, in 2015, 2019 and 2021, Bitcoin had a strong rise after touching this moving average. If this trend is repeated, the price seems likely to make an upward leap than $ 74,700.
Possible scenarios for Bitcoin
If Bitcoin can hold at the level of $ 85,000, the price can be expected to test the resistance of $ 90,000 again. If this level is exceeded, rising up to $ 97,000 may occur. However, if the price does not stay here, there may be a decrease to $ 75,000 and then $ 64,000.
On the other hand, if Bitcoin manages to break the $ 97,000 resistance, it may be possible to rise up to $ 108,000 with a new wave of rise. However, if sales pressure continues and the level of $ 64,000 is lost, the decline tendency in the market may be strengthened and a larger correction process may begin. The coming weeks will be critical to determine whether Bitcoin will continue the rising trend or enter a greater correction.
