Analyst: Bitcoin has retraced the price level at the beginning of the year, and whether it can hold the support level around $93,500 has become the key
2025-04-29 09:46:45
Keith Alan, co-founder of Material Indicators, highlighted that Bitcoin is struggling to regain an important position in the early 2025 price. This position is around $93,500 and is a key focus for future movements. A brief drop below this level after the weekly close worried Alan. "That's one of the reasons I think there could be more downside volatility," he said. However, he also admitted that if the re-testing of support is successful, it could have a positive impact. Alan also added that he hopes that Bitcoin's 21-week simple moving average (SMA) will hold, but the price is currently in a "key area". (Cointelegraph)
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