Bitcoin (BTC) continues to capture the attention of traders and investors alike as it remains in a crucial price zone.
According to recent insights shared by crypto analyst Ali (@ali_charts), the leading cryptocurrency is currently holding a key support level at $82,690. This level has become an important marker for many in the market, and it appears to be vital for maintaining upward momentum in the near term.
Key Support Level: $82,690
The $82,690 support level is critical for Bitcoin’s price stability. If Bitcoin fails to hold this support, it could face further downward pressure, leading to potential tests of lower price levels. The chart accompanying Ali’s analysis shows that this support has significant backing from addresses that acquired Bitcoin in the range between $57,493 and $72,500. With 1.8 million addresses at stake in this price zone, the support is not easily broken.
Resistance to Watch: $95,620
On the flip side, BTC‘s main resistance level to watch stands at $95,620. This is the price at which the cryptocurrency is likely to face significant selling pressure. The resistance zone is backed by 1.6 million addresses, and with a total volume of 1.09 million BTC, it’s clear that there is substantial resistance in this area.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/top-crypto-analyst-reveals-key-support-and-resistance-levels-of-bitcoin/