At the time of writing, Bitcoin (BTC) is testing key support levels and traders are closely monitoring signs of potential price breakout or pullback. Bitcoin price has increased by 0.51% over the past 24 hours, reaching $97340. The 111-day moving average is currently at $93400, historically acting as a key support level that may determine Bitcoin’s next move. Traders are questioning whether Bitcoin will hold this threshold or prepare for further increase. Currently, Bitcoin is consolidating below the $101900 resistance zone. Failure to break this resistance may lead to a price retreat and testing key support levels at $93400 and $97170. Traders must carefully watch these levels to identify breakout or reversal signals. The NVT Golden Cross indicator for Bitcoin has increased by 28.21% in the past 24 hours, indicating potential buying saturation. The Taker Buy/Sell Ratio increased by 0.95%, showing slight buying pressure dominance. If this trend continues, Bitcoin may witness an upward movement, but increased selling pressure could lead to price retreat and retesting of key support levels. Liquidation heat map for Bitcoin shows significant concentration of liquidations around the $93400 support and $97170 resistance levels. If Bitcoin declines further, accelerated liquidations may occur, potentially causing a price reversal. Conversely, surpassing the $97170 resistance could increase short positions liquidation and strengthen upward price pressure. Bitcoin wallets holding the lowest amount of Bitcoin in the past 5 months indicate increasing concerns among retail traders amidst market fluctuations. However, Bitcoin whales continue to accumulate this digital currency, which could be a positive signal for the market. Visit the live digital currencies price page to track token and cryptocurrency prices in real-time.
