Bitcoin's short-term price outlook remains uncertain, as it stays within a narrow consolidation range for twelve days. Trading above the significant $94,000 demand level, Bitcoin faces resistance below $100,000. Experts are divided on whether a breakout to all-time highs or a deeper price correction is imminent.
CryptoQuant's data shows BTC's nearest support lies between $91,000 and $95,000, indicated by the 111-day simple moving average and Short-Term Holder Realized Price. These levels are crucial as they represent significant historical profit or loss realization areas.
Analysts note that Bitcoin's support and resistance zones will dictate its next move. Surpassing $101,000 could lead to a bullish rally and price discovery, while losing $94K support might prompt further selling pressure and a deeper correction.
Currently trading at $95,600, Bitcoin's lengthy sideways movement leaves traders anxious, as they monitor key levels for a decisive move. A breakout above $98,000 and $100,000 would strengthen BTC's bullish structure.
Fonte: www.newsbtc.com ↗