Bitcoin price has seen a significant rise recently, surpassing the $96,555 level, indicating a shift towards the upside in the short-term.
Technically, the price is currently trading near the $95,433 level, which is a major support level associated with the 38.2% Fibonacci retracement. If the downward pressure continues, we could see a drop towards the next area at $91,131 or even $87,469 (61.8% support). On the other hand, in case of a return to the upside and a breakout of the downtrend, the price could target the resistance area at $108,431.
Based on these data, investors are advised to monitor the mentioned technical levels and make their investment decisions based on future price movements
