Analyst: Bitcoin Retracing to Yearly Price Level, Will It Hold Support or Become a Turning Point in the Trend

Blockbeats

04/29

BlockBeats News, April 29, according to Cointelegraph, Keith Alan, co-founder of Material Indicators, emphasized the importance of Bitcoin's struggle to reclaim its position from early 2025. This position is around $93,500, which is a key focal point for future trends. A brief dip below this price level after the weekly close raised concerns for Alan.

He stated, "This is also one of the reasons I believe there may be more downward volatility ahead." However, he also acknowledged that a successful retest of the support level could have a positive impact. Alan also added that he hopes Bitcoin's 21-week Simple Moving Average (SMA) will hold but that the current price is in a "key area of interest."

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This position is around $93,500, which is a key focal point for future trends. A brief dip below this price level after the weekly close raised concerns for Alan.</p><p>He stated, \"This is also one of the reasons I believe there may be more downward volatility ahead.\" However, he also acknowledged that a successful retest of the support level could have a positive impact. Alan also added that he hopes Bitcoin's 21-week Simple Moving Average (SMA) will hold but that the current price is in a \"key area of interest.\"</p></div></body></html>\n<div class=\"bt-text\">\n\n\n<p> 來源：<a href=\"https://www.theblockbeats.info//en/flash/291705\">Blockbeats</a></p>\n<p>為提升您的閱讀體驗，我們對本頁面進行了排版優化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4585","symbol_name":"ETF&股票定投概念","start_time":0,"source_url":"https://www.theblockbeats.info//en/flash/291705","article_id":"2531201717","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2531201717","pubTimestamp":1745918760,"columns":[],"sourceInfo":{"source_id":"theblockbeats_live","name":"Blockbeats快讯"},"weMediaInfo":null,"summary":"BlockBeats News, April 29, according to Cointelegraph, Keith Alan, co-founder of Material Indicators, emphasized the importance of Bitcoin's struggle to reclaim its position from early 2025. 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