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Bitcoin Targets $98.6K as MakroVision Flags Key Breakout
By: coindoo|2025/05/08 12:15:01
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The firm noted that this move clears the path for Bitcoin to test the next major resistance near $98,600, a critical liquidity zone on the chart.The analysis highlights Bitcoin’s recovery from a recent low near $75,000, describing the rebound as “impressive” and technically significant. A key catalyst for the rally, according to MakroVision, was the break above a descending trendline, which had acted as a cap on price action in recent weeks.$98.6K Could Open the Door to $102K and $106.4KMakroVision analysts emphasized that if Bitcoin can sustain a move above $98,600, the market may see an acceleration toward higher price targets, specifically $102,000 and $106,400.However, the firm also acknowledged that Bitcoin still faces potential downside risks. The first major support level now sits at $91,700, with a secondary support zone around $87,500 if bearish pressure intensifies. .dark-mode .read-more {background-color: #343a40 !important;} READ MORE: Cardano Faces Downward Pressure After Rejection at Key Resistance Level Investors Weigh Breakout vs. Correction RisksWhile Bitcoin appears to be building momentum, MakroVision ended its report by cautioning traders to stay alert. The central question, the firm notes, is whether BTC can convert this breakout into sustained gains—or if a fresh correction wave could emerge.With macroeconomic conditions, regulatory uncertainty, and Fed policy decisions still in play, the market may soon receive its answer.The post Bitcoin Targets $98.6K as MakroVision Flags Key Breakout appeared first on Coindoo.
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