Ranking
Categories
Historical Snapshots
Token unlocks
Yield
Trending
Upcoming
Recently Added
Gainers & Losers
Most Visited
Community Sentiment
Chain Ranking
Market Overview
CoinMarketCap 100 Index
Fear and Greed Index
Altcoin Season Index
Bitcoin Dominance
Crypto ETFs
Overall NFT Stats
Upcoming Sales
New Pairs
Trending Pairs
Meme Explorer
Gainers & Losers
Community Votes
Top Traders
Spot
Derivatives
Spot
Derivatives
Feeds
Topics
Lives
Articles
Converter
Newsletter
CMC Labs
Telegram Bot
Advertise
Crypto API
Site Widgets
Airdrops
Diamond Rewards
Learn & Earn
ICO Calendar
Events Calendar
Academy
Research
Videos
Glossary
Join us in showcasing the cryptocurrency revolution, one newsletter at a time. Subscribe now to get daily news and market updates right to your inbox, along with our millions of other subscribers (that’s right, millions love us!) — what are you waiting for?
Bitcoin Chart Analysis: Key Resistance Levels in Focus
Two noticeable resistance zones can be seen on the Bitcoin chart, each of which represents a potential obstacle that the price of the cryptocurrency must get beyond to maintain its upward trend. The first zone is around $72,000, which BTC is approaching.
The second, located closer to $85,000, is identified as the “last resistance” before BTC can enter uncharted territory. Clearing this second resistance would position Bitcoin for a powerful upward push, potentially marking a new ATH.
This bullish outlook is based on the recent breakout above a long-term descending trend line, which has historically kept BTC’s price under pressure. Breaking above this trend line indicates a shift in market sentiment and suggests increased buying interest that may continue if BTC’s price surpasses these key resistance levels.
Potential Consolidation and Path to New Highs
Following its breakout from the descending trend line, Bitcoin may consolidate around the first resistance level of $72,000. The chart suggests a possible short-term pullback, where BTC could retest the breakout level before attempting a more substantial upward move.
If BTC clears this zone, it may experience a strong rally fueled by bullish sentiment. The chart’s upward trajectory indicates that once these resistance zones are surpassed, BTC could gain substantial ground, making it one of the top-performing assets in the crypto market.
Read Also: Why Is Maker (MKR) Price Surging and PYTH Breaking Resistance? Here’s the Outlook
Support and Market Sentiment
While the chart does not explicitly show support levels, the breakout zone around the trend line could serve as a new support level if BTC faces a pullback. In technical analysis, former resistance levels often turn into support, suggesting that the BTC price may find buying interest near this area in the event of a price drop.
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.
Get all our future calls by joining our FREE Telegram group.
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.