It was another volatile trading week in the Bitcoin (BTC) market marked by almost equal amounts of losses and gains. According to data from CoinMarketCap, Bitcoin moved between $95,000 – $98,000, forming a strong consolidation zone. However, popular crypto analyst Burak Kesmeci states the critical levels for the premier cryptocurrency lie outside this price range.
Bitcoin Key Levels To Watch – $94,000 Support Vs. $117,000 Resistance
In an X post on February 14, Burak Kesmeci shared an interesting technical analysis on the BTC market highlighting two key zones that could decide the short-term price direction.
One of these critical zones is the 1.6 Gold Ratio Multiplier which currently stands at $117,000. The 1.6 Golden Ratio Multiplier is a valuation tool used to identify vital resistance zones in a bull market. Therefore, Kesmeci postulates that if the Bitcoin Futures market closes above $117,000, spot traders can anticipate the bull rally to rediscover its form leadi
We współpracy z: https://www.newsbtc.com/news/bitcoin/bitcoin-breaking-117000-could-trigger-parabolic-rally-analyst/
