BitcoinWednesday’s price surge came to a $87,000 threshold, rekindled bullish sentiment in the market. However, the updated upward strength of flagship assets temporarily weakened, dropping to a level of $85,000. During this slight movement, a strong support zone has been identified that is important in BTC’s recent journey.
Next Strong Support Zone for Identified Bitcoin
Following recent market instability, Bitcoin is beginning to show signs of slow recovery and stability. Located at On-Chain Experts and Traders Borisvest It will be identified A critical support zone that is important for BTC’s future performance.
In the encrypted Quicktake post, experts point to a strong support zone in the price range of $65,000 to $71,000. The identified support zone appears to serve as a key foundation for bullish momentum and potentially prevent it. Further downside risks.
On-chain experts highlighted that the dynamics of the BTC market indicate an active realised price of around $71,000. Interestingly, this important level will exclude long-term coins and help traders establish support levels based on more current market behavior.
The active realised price is at the level of around $71,000, but the true market average price sits at the $65,000 mark. Borisvest said this level provides a more accurate rating and indicates that the $65,000 point is a key support area. Bitcoin Market Dynamics.
By defining the region between active realised prices and true market average prices that serve as a strong support zone, Borisvest expects a significant amount of demand will be met in the region if prices fall in the near future. As a result, between $65,000 and $71,000 are the current strong and intimate support zone.
Experts say buying flagship assets within this range will bring significant long-term benefits, expecting the greatest ever-growing gathering before this cycle ends.
If Bitcoin prices drop to this zone, Borisvest pointed out that weaker hands may choose to sell coins. meanwhile, Strong hands are most likely to buy more BTC When prices resume their upward trend, they open new positions to establish themselves for greater profits.
The market value of BTC is upwards
The BTC shows a potential for upwards again as bullish momentum gradually builds up. Santiment, a major financial and chain data platform; It has been reported The market value of that Bitcoin has grown slightly following recent attempts Higher targets.
Santiment emphasized that BTC’s market value has returned to the $87,300 mark, but Altcoins is still behind the assets. The move shows that Bitcoin is stable and encourages traders to closely monitor confirmations of sustained rebounds. Data from Santiment reveals: Overall market capitalization of crypto Despite the slight rise in BTC prices over the past week, they still fall by around 7%.
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