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This article is also available in Spanish.
I have bitcoin I’ve entered an important zone Recently, the $94,500 price area has stood out as an increasingly important battlefield due to its short-term trajectory. Although major cryptocurrencies have made several attempts to clear the region During that latest gathering, It faces repeated rejection and emphasizes the existence of strong resistance.
Despite these set-offs, on-chain data shows significant whale accumulation It has been pointed out in the crypto exchangesuggests that the bullish undercurrent is still strong as Bitcoin appears to end at the end of the post office in April 2025.
Heavy resistance clusters ranging from $94,125 to $99,150
According to Crypto analyst Ali Martinez, WHO Shared Insights From the on-chain analytics platform IntotheBlock, Bitcoin is You encounter heavy resistance Between the price range of $94,125 to $99,150.
Related readings
In particular, his post on social media platform X shows that around 2.61 million wallet addresses have accumulated around 1.76 million BTC within this zone, making it one of the most dense supply barriers Bitcoin faces in the current market cycle.
As shown in the chart below, addresses of around 1.26 million hold close to 843,000 BTC between $94,125 and $96,582, while an additional 1.35 million clustered between $96,582 and $99,146, holding around 917,000 BTC. This concentration of holders creates a formidable wall where Bitcoin must violate decisively in order to continue the upward march until next month.
A powerful and decisive daily or weekly closure over $96,600 could negate overhead resistance here and place the next target zone at $99,150. Ultimately, the buying momentum here is that the price of Bitcoin is the final price Target over $100,000 Also.
Conversely, repeated obstacles in this zone can lead to retesting of low support levels of around $93,000 and $84,000, with a substantial amount of 678,000 and 759,150 BTC, respectively.
image From X: Ali_Charts
Bitcoin’s bullish structure remains the same
Despite the $94,000-$99,000 resistance zone poses short-term challenges, the technical patterns suggest that Bitcoin rallies are just beginning. Another prominent Crypto analyst known as Titan of Crypto, I’ve reconfirmed that The long-term price target for Bitcoin, which is roughly $125,000, is still in effect.
This target is derived from the huge reverse head and shoulder (H&S) patterns identified in the Bitcoin Monthly Candlestick chart.
image From X: Titan The code
chart Showing a clear breakout On the inverted H&S tier neckline earlier this year, Bitcoin pushed to around $108,790, the highest ever. Since then, price action has been followed by a retest of holding companies that surpass the monthly time frame support trendline.
Related readings
According to analysts, the technological structure shows that Bitcoin is suitable for rebounding and quickly reaching a new all-time high of $125,000. Of course, this timeline also depends on whether your current support zone is stable at around $85,000-$87,000.
At the time of writing, Bitcoin is trading at $94,147
Unsplash featured images, TradingView charts
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