The Bitcoin price has made a recent attempt to reclaim the significant $96,400 level as support, a move seen as crucial by analysts for spearheading another rally towards $100,000. This comes after breaking through a bearish trend line, with the potential to retest the All-Time High (ATH) of $100,000.
Prominent crypto analyst Rekt Capital highlighted the price retest of $96,400, indicating that securing this level could trigger further rise. He shared or highlighted key support levels and lower highs, suggesting stabilization amidst previous declines.
The analyst emphasized the longer downside wicks in Bitcoin’s price, noting that Bitcoin is capturing liquidity at lower levels without breaking crucial support. This suggests upcoming upward price movement if the $96,440 support remains intact.
Rekt Capital warned that failing to hold this support might see Bitcoin fall to lower support around $91,070 or possibly $87,325, marking a significant potential crash exceeding 10% from current levels.
