Bitcoin's ‘momentum is igniting,’ but these are BTC price levels to watch
Analysts highlight key BTC price levels, emphasizing the importance of reclaiming $93,000 for continued recovery.Summary
Bitcoin is showing signs of igniting momentum after recent negative weeks, but analysts are focused on several critical price levels, particularly the yearly open around $93,000. On-chain data suggests instability as BTC trades below the average realized price for many age groups. Analyst Darkfost noted that reclaiming $97,000, the realized price of the youngest Long-Term Holder (LTH) band, is crucial to stabilize sentiment and encourage holding. Conversely, failure to hold $88,000 is seen as a major support risk, and a close below $93,000 could signal a downtrend toward $68,000. For bulls, a weekly close above $93,500 is needed to confirm a range breakout, with $95,000 being the next short-term target if $93,000 holds.
(Source：Cointelegraph)