Bitcoin $83,958.40After the sudden fluctuations in the early March, he showed recovery. The leading crypto currency, which declined to 82,000 dollars, reached $ 87,000 again with the recovery of market sensitivity. It is a matter of curiosity that the rise trend cannot continue. Analysts predict that price movements will be shaped depending on market liquidity and investor behavior.
What do support and resistance levels show in Bitcoin?
Bitcoin’s four -hour graphic data indicate critical support and resistance levels. $ 82,000 draws attention as a critical support point where the price is withdrawn. In the upward direction, there is a possibility of a correction for $ 83,500 if it is not available above $ 87,000.
If Bitcoin can hold above $ 87,000, the next target can be $ 88,500. The passing of this level can lead to testing 90,000 dollars of psychological resistance. According to technical analysis, the direction of price movements will be closely related to the investor interest and the general liquidity status of the market.
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Liquidation data and analyst reviews
CoNSS data shows that long position holders in Bitcoin have lost $ 370 million liquidation in the last 24 hours. This ratio constitutes 74 %of the total liquidation and reveals how volatil the market is.
Analysts point out that these losses are mainly due to extreme leverage investments. The intense liquidation of transactions means that the market can support short -term recovery. For this reason, investors are advised to carefully do risk management.
Analyst Cole Garner says the deep liquidity on the purchase side of the market gives signals similar to previous rise periods. Garner says that these movements on the market may be the pioneer of a new upward trend, but he adds that care should be taken. Bitcoin price movements will be one of the key factors that will direct the market in the coming days.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
