Analysis Company Claims: “Bitcoin Correction Process Continues, Pay Attention to These Critical Levels”

Cryptocurrency analysis firm MakroVision has shared its updated technical analysis of Bitcoin price movements.

Bitcoin’s Correction Continues After Peak, According to Analyst

The company stated that Bitcoin has entered a correction phase following a peak around $123,000. The analysis indicates that the current structure is bearish and corrective.

Important support levels identified by MakroVision are as follows:

• 0.5 Fibonacci level: $110,676
• 0.618–0.665 Fibonacci range: $107,721–$106,536

It was stated that these ranges are critical support zones for Bitcoin.

The analysis also predicts that if the liquidity zone above $120,300 is breached, Bitcoin could regain upward momentum and a rally above $129,000 is possible.

On the other hand, it is warned that if the price falls below the $105,500 level, the technical outlook will deteriorate significantly and the risk of a downside will increase.

At the time of writing, Bitcoin is trading at $113,627, a 3% drop over the past week.

*This is not investment advice.

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