Bitcoin Will Explode When It Breaks This Strong Supply Zone
Bitcoin Set for Explosion or Facing Selling Pressure? $100,000 Is in Focus.
Bitcoin is currently trading around $97,600 , showing a slight recovery after a sharp drop from its all-time high.
However, a strong “wall of resistance” is blocking Bitcoin’s path, raising questions about whether the digital currency can overcome it to reach new heights.
Challenge at Strong Resistance Zone
According to analyst Ali Martinez , the price range between $97,500 and $99,800 is a major obstacle for Bitcoin.
On-chain data shows that 924,000 wallets bought more than 1.19 million BTC in this range, creating significant selling pressure as the price approached the $100,000 mark .
Bitcoin successfully breaking this resistance zone could pave the way for a strong rally, but if it fails, the cryptocurrency risks falling back to retest the key support level at $92,000 .
Volatility and Short-Term Outlook
Over the past three days, Bitcoin has experienced a 15% drop, followed by a brief 6% recovery .
This reflects the volatility typical of the cryptocurrency market. However, analysts remain optimistic about the possibility of a price increase, especially if Bitcoin holds above the support zone.
Bitcoin is currently trading at $98,200 , once again testing a strong resistance zone.
If cleared, the rally could take BTC to new all-time highs, surpassing the psychological $100,000 mark.
Conversely, if it fails, Bitcoin could face increased selling pressure, slowing down the recovery.
What Is The Market Waiting For?
The $100,000 milestone is not only a technical level but also has great psychological significance for investors.
If Bitcoin breaks through, the market could enter a strong bull phase, triggering a new wave of buying.
However, in case it fails to break through the resistance zone, Bitcoin could return to the accumulation phase, hovering around lower levels to wait for new momentum.
Regardless of the outcome, the current volatility suggests that Bitcoin is preparing for a big move in the short term, and all eyes are on every price move.
Whether Bitcoin makes history or enters a correction phase, the answer will soon be revealed.