While the upward trend of Bitcoin (BTC) price has paused around $94,000 today, altcoins are experiencing significant gains. Bitcoin is currently stabilizing below the key resistance of $95,000, a level where the Fibonacci golden ratio is placed and usually triggers notable price reactions. The current low-volatility price movement of Bitcoin is seen as a healthy pause after recent growth, possibly gathering energy for the next upward move. Traders need to be cautious of heavy resistance near the price peak in mid-March around $95,150. On the other hand, important support levels are at $90,438 and $89,474. Bitcoin’s drop below these levels could signal the formation of a price ceiling and push the market towards a deeper correction in the range of $86,000 to $81,000. Data indicates that whales and large investors have once again entered the accumulation phase, adding over 19,250 BTC to wallets holding between 10 to 10,000 bitcoins during this period, a behavior typically viewed as one of the strongest confidence signals in the digital currency market. Overall, with Bitcoin’s price stabilization at higher levels and whale accumulation, the short-term outlook for BTC remains positive.
