Bitcoin Price Analysis: Critical Levels and Tips for Investors

In recent days, the price of Bitcoin (BTC) has reacted from the support level of approximately $80,000, but since it remains below the yearly opening level of $93,500, it continues to face pressure on the daily chart. As the crypto market remains volatile, the price of Bitcoin has approached critical regions for medium and short-term investors. In the first part of this analysis series sponsored by MEXC, the reaction of the price from the $80,000 region and the subsequent consolidation around the yearly opening price bring important scenarios to the agenda in the coming days.

After retracing to the level of approximately $80,000, Bitcoin found buyers again from the accumulation zone that brought the ATH around $74,000. With this support, the price rose back towards the yearly opening level, namely the band around $93,500-93,585. However, since this region has not been permanently surpassed, the pressure on the daily chart continues.

The negative scenario on the daily chart continues in the event that Bitcoin is unable to consistently gain the $93,500 yearly opening level. Analyses indicate that if the price stays below $83,700 and daily closures occur below the region where the last two dip attempts were made, selling pressure may increase. In this case, pullbacks to $80,600 and further down to $74,500 levels may be possible.

In the positive scenario, daily closures above $93,500 may carry the price initially to the $96,000-97,000 band and then to the previously strong support/resistance region of $99,500-101,500. To discuss ATH scenarios, Bitcoin needs to gain this region and subsequently struggle to break above and stay above the level of $107,000, which is the bottom around $80,000.

In the 4-hour chart, the situation is relatively more positive. Bitcoin is exhibiting a classic upward structure by forming higher lows and higher highs in this time frame. In the short term, especially if 4-hour closures occur above the resistance region formed around the monthly opening, roughly above $91,000, the price may again be lifted to the $93,500 level. With this attempt, an exit above $93,500 could extend the movement to the $96,000 band.

In conclusion, the daily chart currently reflects a cautious outlook, while the 4-hour Bitcoin chart indicates that buyers are still at the table in the short term. These critical levels can be closely monitored through the BTC/USDT pair on the MEXC exchange. As always, do not forget that risk management is of utmost importance in leveraged trading; none of the information presented here constitutes investment advice.