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02.04.2025 04:49 AMBitcoin (BTC)
After reaching the support level of 81,231 (the approximate low from March 4 and 18), the price approached the MACD line (86,038). A breakout above this line would allow further growth toward the next target level, 90,873, and then 94,966.
The simultaneous upward reversal of the Marlin oscillator from the zero line, combined with the price rebound, increases the likelihood of this bullish scenario. Overall, the rise in cryptocurrencies is associated with new risk-on sentiment in the markets.
On the H4 chart, the MACD line is slightly below today's high of 85,554.
A consolidation above this recent high would indicate that a new group of bulls is joining the upward momentum. The Marlin oscillator is in positive territory. Increased volatility is possible near these key resistance levels.
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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