- Resistance at $98,279-$100,080 remains key for Bitcoin’s push toward $100,000.
- More wallets have bought BTC around this price range.
Bitcoin’s [BTC] price trajectory continues to capture the attention of traders and investors alike, with critical support and resistance levels shaping its next move.
The path forward is becoming clearer, with significant accumulation zones and technical indicators revealing market sentiment.
Bitcoin shows strong demand zone
Analysis of the In/Out of the money data from IntoTheBlock highlights a critical demand zone. The data showed a demand zone between $94,800 and $97,700, with over 1.3 million addresses accumulating Bitcoin.
This cluster serves as a robust support level, with the current price of $97,860 hovering within this range.
Should Bitcoin fall below this zone, selling pressure could intensify, potentially leading to a bearish reversal. On the other hand, the resistance at $98,279 to $100,080 suggests that breaking above this level is essential for sustained bullish momentum.
Technical indicators signal stability amid volatility
Bitcoin’s price currently trades at $98,313, reflecting a steady climb supported by the 50-day moving average at $85,939. Key retracement levels from Fibonacci indicators highlight $94,876 as a vital confluence area, aligning with the demand zone.
Source: TradingView
Furthermore, the RSI (14) stands at 59.51, indicating neutral momentum, while consistent volume levels suggest active market participation. Should Bitcoin maintain its position above $97,700, a push toward $100,000 becomes increasingly plausible.
Accumulation patterns above $100K show BTC’s long-term potential
The broader market picture reveals that 482,000 addresses have acquired Bitcoin between the current price and $100,000, underscoring strong confidence in further upside.
Source: TradingView
However, the $94,800-$97,700 range remains the critical demand zone where institutional and retail interest has converged.
These accumulation patterns signify a long-term bullish outlook, provided Bitcoin can hold its current momentum and overcome the key resistance levels ahead.
Read Bitcoin (BTC) Price Prediction 2024-25
Bitcoin is at a pivotal point, with significant support at $94,800-$97,700, providing a foundation for further growth. While immediate resistance at $98,279-$100,080 poses a challenge, breaking above this level could propel BTC toward new highs.
As on-chain data and technical indicators align, BTC’s next move will likely determine its trajectory for the weeks ahead.
