Crypto analysis company Alphractal and the company's CEO Joao Wedson made important assessments regarding the current price movements of Bitcoin. According to their analysis, for Bitcoin to regain short-term optimism, it needs to clearly surpass the level of 86,300 dollars.
In a statement made by Alphractal, it was noted that 86,300 dollars is an important technical area that has historically acted as both support and resistance, referred to as the "Alpha Price". However, according to analysts, even if Bitcoin temporarily surpasses this level, there is a possibility of a pullback. This situation indicates a potential "bull trap".
The statement also listed the lower support zones to be monitored in case of possible pullbacks: the levels of $73,900 and $64,700 stand out as areas that could be retested in the event of Bitcoin's weakness.
"Due to the current uncertainty and the strong resistance at the 86,000 level, the most reasonable strategy right now is to wait," said Alphractal analysts, urging investors to be cautious.
At the beginning of the week, following Bitcoin's rapid recovery to the level of 85 thousand dollars, a limited sense of optimism emerged on social media platforms and news sites. According to Alphractal data, despite the serious pessimism in recent weeks, the likelihood of local bottoms forming increases when market sentiment is excessively negative.
The company stated that investor confidence is expected to increase as prices rise; otherwise, negative sentiment is likely to return.
Alphractal CEO Joao Wedson also personally stated that the Bitcoin price around 86,000 dollars carries high risk.
The content is for reference only, not a solicitation or offer. No investment, tax, or legal advice provided. See Disclaimer for more risks disclosure.
The CEO of the Analysis Company said, "Stay Away If Bitcoin Rises To This Level! It Could Be A Big Bull Trap"
Crypto analysis company Alphractal and the company's CEO Joao Wedson made important assessments regarding the current price movements of Bitcoin. According to their analysis, for Bitcoin to regain short-term optimism, it needs to clearly surpass the level of 86,300 dollars.
In a statement made by Alphractal, it was noted that 86,300 dollars is an important technical area that has historically acted as both support and resistance, referred to as the "Alpha Price". However, according to analysts, even if Bitcoin temporarily surpasses this level, there is a possibility of a pullback. This situation indicates a potential "bull trap".
The statement also listed the lower support zones to be monitored in case of possible pullbacks: the levels of $73,900 and $64,700 stand out as areas that could be retested in the event of Bitcoin's weakness.
"Due to the current uncertainty and the strong resistance at the 86,000 level, the most reasonable strategy right now is to wait," said Alphractal analysts, urging investors to be cautious.
At the beginning of the week, following Bitcoin's rapid recovery to the level of 85 thousand dollars, a limited sense of optimism emerged on social media platforms and news sites. According to Alphractal data, despite the serious pessimism in recent weeks, the likelihood of local bottoms forming increases when market sentiment is excessively negative.
The company stated that investor confidence is expected to increase as prices rise; otherwise, negative sentiment is likely to return.
Alphractal CEO Joao Wedson also personally stated that the Bitcoin price around 86,000 dollars carries high risk.