CoinMarketCap: Read what our contributors have to say. This content is provided by the community. DYOR!
Analytics Company Shares Key Price Levels That Will Determine Bitcoin’s Fate
Market Musing-g

Analytics Company Shares Key Price Levels That Will Determine Bitcoin’s Fate

Bitcoin Sistemi EN
By Bitcoin Sistemi EN
3 months ago
2 mins read
Analytics Company Shares Key Price Levels That Will Determine Bitcoin’s Fate

Cryptocurrency analytics firm MarktQuant has outlined the critical levels in Bitcoin’s price trajectory and outlined the key areas that investors should closely monitor.

The firm’s latest analysis highlights the importance of the $98,400 resistance level for bullish momentum, as well as potential support levels that could trigger significant market reactions.

According to MarktQuant, the biggest challenge for Bitcoin is the resistance at $98,400. The price needs to break out of this level to resume the uptrend. Failure to do so could lead to a pullback and potentially test support in the $90,000-$92,000 range.

BTC price is trading at $97,500 at the time of writing.

Related News: Wells Fargo Predicts How Many Times the Fed Will Cut Interest Rates in 2025

MarktQuant expects fresh buying interest to emerge around $90,000-$92,000 in the event of a pullback. This range also represents a critical area for futures traders, especially those using high leverage (around 16.67x or higher), and they will likely place stop-loss orders here.

According to the analytics firm, if Bitcoin were to fall into this zone, the market could experience a drop of around 6.5%, which could trigger significant liquidations and increase volatility.

MarktQuant’s analysis also highlighted significant liquidation clusters. The firm noted significant movement in the $94,000-$96,000 range, where leveraged positions, particularly long liquidations, are concentrated. These areas act as magnets for market volatility as prices approach these thresholds.

*This is not investment advice.

Continue Reading: Analytics Company Shares Key Price Levels That Will Determine Bitcoin’s Fate

0 likes
|

Other articles published on Nov 30, 2024

Market Musing-g

Bitcoin Price to Reach $100K? Robert Kiyosaki Shares His Insights

Bitcoin is trading at $96,662, with analysts predicting a potential surge to $106,000 by December due to a double bottom pattern. Increased trading volume (up 8.73%) and regulatory progress, like S...
By Crypto News Land
3 months ago
3 mins read
Market Musing-g

Algorand Price Prediction: ALGO Is Top Gainer With 43% Surge, But Experts Say This ICO Might Be T...

The Algorand price has soared 43% in the last 24 hours to trade at $0.4243 as of 9:35 a.m. EST on a 308% pump in [...]
By Inside Bitcoins
3 months ago
5 mins read
Market Musing-g

US spot Ether ETFs see record daily inflow at $332 million

United States spot Ether ETFs recorded an increase in daily inflows on November 29. According to data from Farside, the $332 million figure surpasses the previous inflow record of $295 million set ...
By Cryptopolitan_News
3 months ago
4 mins read
Market Musing-g

ZA Bank Becomes Asia’s First Bank to Offer Retail Crypto Trading: Report

Through a partnership with HashKey Exchange, ZA Bank’s app allows users to trade crypto 24/7 using legal currencies like HKD and USD.
By BSCN
3 months ago
3 mins read
Market Musing-g

Top 3 Altcoins Heading for ATH Breakouts in the Coming Week

With Bitcoin crossing above $91,000, crypto investors’ rising risk appetites tease a bull run in altcoins. Amid the increasing demand, many have hit a new 52-week high, with the reversal rally gain...
By CoinPedia News
3 months ago
5 mins read
Market Musing-g

Expert Says XRP to $2 Isn’t Even a Question. $8-$20 Is Inevitable

XRP has experienced a resurgence in the cryptocurrency market. It has reclaimed the $1 mark after three years and peaked at $1.93 on November 30. Although it has retraced slightly, now consolidatin...
By Times Tabloid
3 months ago
4 mins read

Join the thousands already learning crypto!

Join our free newsletter for daily crypto updates!