In a recent statement, renowned cryptocurrency analyst Ari Martinez gave his opinion on the future of the bitcoin (BTC) exchange rate.
Martinez emphasized that #bitcoin is currently in a critical range between two important supply zones. According to analysts, the first zone, which acts as support, is between $50,000 and $51,570. Approximately 1.3 million addresses in this zone hold 670,220 #BTC .
According to analysts, the second zone, which acts as resistance, is between $51,640 and $53,200. In this area, there are 752,600 addresses holding 351,600 BTC.
According to Martinez, it is these zones that are of great interest to investors and traders. If bitcoin can overcome the resistance, Mr. Martinez predicts that it will rise to $57,130. According to the analyst, this will indicate a strong buying impulse and could trigger a new wave of investment in BTC.
Conversely, if the support zone is not held, a correction to $47,700 could appear on the horizon. This would indicate a downtrend and could lead to a sell-off.
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