With Bitcoin approaching key resistance, trader MMCrypto has put the $87,200 mark at the top of his list as the level that will determine whether there is a breakout in the third quarter. The Singapore-based analyst offers his perspective on where BTC is headed and what a decisive move from here would entail.<\/p>\n
MMCrypto notes that the asset has left a major horizontal resistance zone at $82,000 behind. In his assessment, the $87,200 line is the next immediate test for the market; a clean break of that would confirm a strong start to Q3 for Bitcoin.<\/p>\n
But he is quick to add that price action alone is not enough. For MMCrypto, any push above $87,200 needs to be supported by solid volume. Without that kind of conviction in the trading numbers, he says, BTC will have trouble holding those higher prices.<\/p>\n
A firm break of the $87,200 resistance level by Bitcoin would put the next big target in the $102,000 to $103,000 range, according to MMCrypto. Such a development would be a clear sign of a strong rally and would underpin bullishness through the rest of Q3.<\/p>\n
MMCrypto\u2019s approach follows market momentum and technicals. The trader has put his money where his mouth is with active holdings in Monero, XRP, and Ethereum as well as BTC; those positions have already generated $1.6 million in profits.<\/p>\n
There is a certain mixed feeling to the change, he says. MMCrypto puts some of his own history in context: 13 or 14 years ago he made his way to Singapore for the first time as an economics student with an eye on a job in traditional finance. Now he makes his home there and has turned his attention to championing cryptocurrency. It is a far cry from where he started, yet that very undercurrent runs through his market analysis and how he engages with it; his resolve in the crypto space is as firm as ever.<\/p>\n
This article reflects the channel author\u2019s opinion and is not investment advice.<\/em><\/p>\n Source \u2014 MMCrypto: https:\/\/www.youtube.com\/watch?v=v04Ft3nmxek<\/a><\/em><\/p>\n <\/p>\n Sharpen your skills and test strategies on Bitcoin’s key resistance levels with our risk-free trading simulator. Practice Bitcoin trading<\/a>.<\/p>\n <\/p>\n