As Bitcoin (BTC) hovers near significant price levels, analysts are divided on what lies ahead for the world’s leading cryptocurrency.
With volatile price action and key resistance zones in play, the crypto market is watching closely for the next decisive move.
Choppy Waters in the Short Term
Altcoin Sherpa, a prominent crypto analyst, notes that Bitcoin’s short-term movements remain difficult to interpret due to highly “choppy price action.” He highlights the relevance of order blocks—price zones where supply or demand clusters—particularly for identifying broader regions of support and resistance rather than fixed levels.
A chart shared in his post marks a significant resistance region (in red), where Bitcoin has previously encountered strong selling pressure, as well as a support zone (in green). Sherpa suggests that if BTC can break above the upper resistance, it could pave the way for a stronger bullish move: “Once we break it, it’s off to the races.”
Momentum Warning Signs
On the other hand, Ali Martinez issues a more cautious outlook. He points out that while Bitcoin is approaching major resistance levels, several indicators hint at a potential slowdown:
- Hanging man candlestick pattern, often seen as a bearish reversal signal.
- Bearish RSI divergence, suggesting weakening buying strength despite rising prices.
- A recent MACD bearish crossover, typically associated with downward momentum.
Ali warns that “momentum is stalling” and advises traders to exercise caution as the market tests its upper limits.
Conclusion
Bitcoin appears to be at a critical inflection point. While a breakout above current resistance levels could ignite another leg up, technical signals point to a possible stall or pullback. Traders are advised to watch price action closely and remain nimble in the days ahead.
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/bitcoin-at-a-crossroads-analysts-weigh-in-on-market-momentum/