- Bitcoin was confronted with a critical resistance at $ 102,350, with strong support of around $ 96,147.
- The market sentiment remained balanced as the transaction volume decreased, indicating possible short -term volatility.
Bitcoin [BTC] Recently recently recently recovered a critical support zone between $ 96,475 and $ 99,360, which indicates a potentially bullish momentum.
During the press, the price of Bitcoin was $ 98,079.85, which reflects a decrease of 0.91% in the last 24 hours.
Despite this small decrease, the total momentum of Bitcoin remained strong, especially with the $ 102,350 – $ 103,900 delivery wall in sight. If Bitcoin breaks this level, we could see the next phase of his bullish cycle.
What reveals Bitcoin’s graph?
The price diagram of the King Coin showed an incoming reversed head and shoulder pattern, which is often seen as a bullish signal. The price is consolidated between $ 96,147 and $ 102,806, which forms a critical resistance zone.
Bitcoin tests this zone, and if it applies above $ 96,147, it could break the region of $ 102,350 – $ 103,900, to $ 104,000.
Moreover, the relative strength index (RSI) was at the time of 44.45, indicating that BTC was approaching over -sold circumstances.
Bitcoin can therefore experience a withdrawal or consolidation in the short term before he gets enough strength to break the wall of $ 102,350.
Source: TradingView
What does the NVT Golden Cross tell us?
The NVT Golden Cross indicator, which measures the network value of Bitcoin for the transaction volume, showed a 24 -hour percentage change of -23.09%.
This indicated a decrease in the transaction volume compared to the price increase of BTC, which suggests that the rally may not be fully supported by network activity.
Although BTC Bullish remained, the lack of sufficient transaction volume can indicate that the rally can lose steam.
Therefore, if the transaction volume does not quickly record, Bitcoin can experience a short withdrawal before resuming his upward trend.
Source: Cryptuquant
Bulls vs. Bears: Who prevails?
Market feeling showed that bulls and bears were in a tight match. With 111 bulls versus 114 bears in the past week, the market sentiment remains relatively balanced.
Despite a few bullish -front views, the Beetrint continued to exist, which indicates that BTC could experience the resistance when approaching the $ 102,350 delivery wall.
The outcome of this tug of war between the bulls and bears will probably determine whether Bitcoin can break this resistance and keep climbing.
Source: Intotheblock
Long versus short positions: What do traders expect?
The long/short ratio of Bitcoin revealed that more traders gambled at further price increases. At the time of the press, 45.16% of the positions were long, while 54.84% were short.
This suggested that a majority of traders expected a quotation in the short term.
The volatility of BTC plays a role in this cautious attitude, because many traders are uncertain about the sustainability of the recent price movement.
Traders will keep a close eye on to see if the Bullish Momentum can overwhelm the short positions.
Source: Coinglass
BTC can break the wall of $ 102,350, but …
The recent recovery from BTC, combined with its critical support levels and potential bullish patterns, suggests that the cryptocurrency will probably break the $ 102,350 – $ 103,900 supply wall.
Although a bearish sentiment remains on the market, the general technical setup is promising.
Read Bitcoin’s [BTC] Price forecast 2025–2026
However, the current lack of strong transaction volume and continuous resistance of the bears can lead to some volatility.
As a result, while Bitcoin is ready to break the supply wall, the journey can hold some fluctuations before a clear outbreak.