Cryptocurrency analytics firm MakroVision has provided an update on Bitcoin's price action, noting that it is currently in a downtrend. The firm has identified key resistance levels that need to be broken for a sustained recovery to occur. Bitcoin is currently trading just below the critical $98,600 level, and a break above this level is needed to signal bullish momentum. MakroVision also highlighted that Bitcoin is trading within a descending red trend channel, and a break above this trend line would be a bullish signal. The recent recovery lacks clear impulsiveness, making testing the upper resistance levels essential.



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