Bitcoin Rebounding? Key Levels to Monitor

Crypto expert Bitcoin market bounce, which is fantastic. However, the top cryptocurrency is in a crucial price zone that affects bullish and bearish market results.

Bitcoin Must Exceed $93,400 To Maintain Bullishness

First, the expert noted BTC's positive divergence against its relative strength indicator, which implies fading downward momentum and a possible price turnaround.

Potential liquidations total $14 million at $95,300. Martinez expected market makers to target this leveraged trading zone. Market makers try to minimize leveraged positions to boost liquidity and volatility, which they may use to trade at favourable prices.

Long traders on Binance rose from 53.12% to 64.04%, supporting Bitcoin's comeback.

Bitcoin crossed $94,800, which the expert said was important obstacle to the rally. Bitcoin is anticipated to increase to $95,600 and maybe $98,373 soon.

The market analyst warns that Bitcoin is at a critical point, and any decrease below $93,400 might cause a further plunge below $84,000 or $70,000. This might lower its price by 25%.

Bitcoin is worth $95,173 at press time, up 0.93% in 24 hours. Valuation is $24.76 billion, while trade volume is down 53.76%.

The leading cryptocurrency ended 2024 bearishly, yet market optimism remains strong. Analysts have long said 20-30% dips lay the ground for bigger stock rebounds in bull markets. A price rise over $100,000 barrier is needed to start another rally with objectives as high as $350,000 in 2025.

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