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The Analysis Company said, "Our previous prediction on Bitcoin was accurate," and shared their current views!
Crypto analysis company MakroVision focused on the possible rebound movement of Bitcoin within its downtrend in the technical analysis published on March 19.
The company has maintained its bullish position despite the negative market atmosphere and indicated a target area above $96,000. According to the analysis firm's claim, recent developments have revealed the accuracy of this analysis.
According to MakroVision, Bitcoin has reached the target zone predicted in the analysis after a decline structure consisting of five waves. A quick reversal occurred in this zone, confirming a possible bottom formation.
After breaking the orange resistance area around 88,000 dollars, Bitcoin continued its upward movement with momentum. It is currently reported that the price is moving towards 98,700 dollars.
MakroVision emphasized that Bitcoin's technical counter-move was carried out "strongly," stating that the structure maintains its validity in the short term. It was noted that as long as the price remains above the 88,000 dollar level, the current upward structure will not be disrupted, and the next critical resistance level is approximately 98,700 dollars.