For history to repeat itself, he noted that BTC would need to reject from $99,000, hold above $93,500, break the $97,000 to $99,000 range, reject from $104,500, hold the $97,000 to $99,000 range as support, and then break out to new all-time highs (ATHs). Related Reading: Bitcoin Price Confirms Breakout To $106,000 As Technicals Align Commenting on the current price action, crypto analyst Titan of Crypto noted that the Bitcoin price is pulling back to a key support confluence.
Technical expert Tony Severino has commented on this development and alluded to the LMACD indicator, which has revealed what is next for the flagship crypto. What Is Next For The Bitcoin Price After Rejection At $97,000 In an X post, Tony Severino stated that multiple BTC timeframe analyses using the LMACD indicator suggest that the Bitcoin price is in a precarious position.
This would cross the monthly LMACD back bearish. Related Reading: Bitcoin Raging Bull Indicator Turns Back On, But This Level Holds The Key With several important timeframes in sync, Severino warned that market participants could see a more aggressive down move for the Bitcoin price.
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