Bitcoin is trading at $103,400 at press time, with a 24-hour trading volume of roughly $74.5 billion. The asset has remained relatively flat on a daily scale after a minor decline and subsequent recovery, and is down slightly for the week.
Analysts are watching several key technical levels, as the current market structure suggests that Bitcoin may be nearing an important support zone.
66-Week EMA and $94K Level in Focus
EGRAG CRYPTO shared an updated long-term chart showing Bitcoin’s price approaching the 66-week exponential moving average (EMA), currently aligning near the $94,000 zone. This level also coincides with an unfilled CME futures gap.
Source: EGRAG CRYPTO/X
In past cycles, BTC has often touched or moved slightly below this EMA before beginning major rallies. Referring to a possible drop toward the CME gap before a reversal, EGRAG said,
“The Bears may have one last dance.”
He has been tracking this setup since September 30, calling the 66W EMA a key reference point.
We współpracy z: https://cryptopotato.com/bitcoin-bears-last-dance-94k-support-in-the-spotlight/
