Experienced Trader Shares the Level That Must Be Defended Following Bitcoin’s Sharp Drop

Crypto analyst Ali Martinez shared notable technical and on-chain levels for Bitcoin and Ethereum. According to Martinez, the $60,000 region is critical for maintaining the current trend in Bitcoin.

The analyst noted that, according to on-chain data, more than 1.3 million BTC changed hands between $60,000 and $63,000. Martinez emphasized that this region represents one of the largest volume clusters for Bitcoin, and stated that the $60,587 level should be maintained as short-term support.

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According to Martinez, if Bitcoin falls below this support level, the next significant level for the price could be $46,702. The analyst stated that approximately 150,000 BTC are currently trading in this region. Further down, Martinez noted that the $37,867 level stands out, with 207,000 BTC changing hands in that area.

Ali Martinez stated that he was monitoring daily closes to see if buyers would defend the volume block around the $60,000 mark.

On the Ethereum side, the analyst noted that ETH is trading below the 200-hour simple moving average. According to Martinez, unless Ethereum regains this level, the $1,580 level can be watched as the next important target.

*This is not investment advice.

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