Bitcoin is grinding higher into a heavy resistance pocket while spot supply on exchanges keeps shrinking. Structurally, that’s a bullish backdrop, but technically, the price is pressing right into an area where profit-taking is expected. Therefore, either the price breaks and holds above this ceiling, or a corrective pullback into the mid-range would occur.
Bitcoin Price Analysis: The Daily Chart
On the daily chart, BTC has pushed back into the $95K resistance band, which lines up with the 100-day moving average. This is the same zone that rejected the asset on the previous bounces, so for now it still acts as a key supply area within the broader downtrend from the highs.
Daily RSI is also elevated but not at panic extremes anymore, signalling strong short-term momentum but still inside a larger corrective structure. As long as BTC trades below the 100-day moving average and the $95k resistance block, the move is best treated as a counter-trend rally, not a confirmed new uptrend.
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