Bitcoin has been facing intense volatility and selling pressure as it struggles to reclaim the $100K mark. Despite the uncertainty, Bitcoin continues to show resilience by holding above crucial price zones that could determine its next big move.
According to top analyst Axel Adler, the most critical support level for BTC currently sits at $90.6K, based on the Short-Term Holder (STH) Realized Price metric. Another major support level is found at $97.2K, calculated from the Short-Term Holder one-month to three-month Realized Price. These levels indicate where recent buyers are positioned, making them crucial for Bitcoin’s stability.
On the resistance side, Bitcoin faces significant supply pressure at $100.6K, a level where recent buyers have concentrated their entries. If Bitcoin manages to reclaim and hold above this level, the next target would be $105K or higher, opening the door for another attempt at price discovery.
The market remains in a consolidation phase, with both bulls and bears fighting for control. If Bitcoin holds above its key support levels, a renewed bullish phase could emerge, pushing the price toward new highs. However, losing these zones could trigger another round of selling pressure, potentially sending BTC into lower demand levels.
For now, the most crucial support level for bulls to hold is $98K. Maintaining this level could set the stage for a rally, as it has proven to be a strong demand zone in recent sessions. A successful defense of $98K would give buyers the confidence needed to push the price above $100K, a psychological and technical level that must be reclaimed to shift momentum in favor of the bulls.
Traders are watching these levels closely, as Bitcoin remains at a crucial point in determining whether the next move will be a surge above all-time highs or a continued pullback into lower support zones. The next few days will be pivotal in shaping Bitcoin’s short-term trend and setting the stage for its next major move.
Tags: Bitcoin, BTC, Crypto Market, Technical Analysis, Support and Resistance
Source: https://www.newsbtc.com/bitcoin-news/bitcoin-support-sits-at-906k-short-term-holder-realized-price-expert-reveals-key-resistance-level/