Where is the next destination for Bitcoin price? Here are the levels that must be held and will trigger a rally.

The Crypto analysis platform MakroVision has published a notable assessment regarding the recent price movements of Bitcoin.

The analysis indicated that Bitcoin rose to a new all-time high of $112,000, and then entered a technically healthy correction process.

MakroVision emphasized that the 61.8% Fibonacci resistance at the level of $111,260 initially pushed the price back, but this pullback has so far been limited to around 5%. Currently, no strong downward movement signals are observed.

Experts point out that Bitcoin has found strong support at the following technical levels:

• 103,200 USD: %23.6 Fibonacci retracement level, currently being successfully maintained.
• 102,000 dollars: This level, which previously acted as resistance, is now a potential support area.
• 97,700 dollars: This area, corresponding to the 38.2% Fibonacci level, forms a strong support cluster along with 98,600 dollars.

According to MacroVision's analysis, Bitcoin retesting $112,000 would mean the market is confirming its strength again. If this level is surpassed, the $121,100 level emerges as the next target.

However, in terms of downside risks, it is emphasized that as long as Bitcoin does not fall below 97,700 dollars, it is still structurally in an upward trend.

*It is not investment advice.

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