Bitcoin News
By Sakamoto Nashi
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Key Levels: $97K Resistance and $64K Support. The cost basis distribution chart, which tracks the accumulation of Bitcoin by holders at…
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Recent Price Action and Potential Scenarios. Bitcoin’s price action in recent months has showcased significant momentum.
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The Role of the 50-Week Moving Average. Another critical technical factor in Bitcoin’s price action is its interaction with the 50-week…
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Conclusion. Bitcoin’s price is at a crossroads, with critical resistance at $97,000 and support at $64,000.
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Bitcoin’s (BTC) price action has recently been marked by significant volatility, with key levels of support and resistance playing crucial roles in determining its next move.
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The cost basis distribution chart, which tracks the accumulation of Bitcoin by holders at different price levels, reveals some important insights.
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On the other hand, support for Bitcoin sits at $64,078, where 194,530 BTC were acquired by buyers.
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Bitcoin’s price action in recent months has showcased significant momentum. The price surged from $55,000 in September 2024 to a peak above $108,000 in early 2025.
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If Bitcoin fails to break through the $97K resistance and instead continues to trend downward, it could see further corrections towards $75,000 before eventually testing the…
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Conversely, if Bitcoin manages to break above the $97K resistance and hold that level, it could trigger a new uptrend, possibly reaching new all-time highs beyond $108,000.
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Another critical technical factor in Bitcoin’s price action is its interaction with the 50-week moving average (MA), which currently sits at $74,700.
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Currently, Bitcoin’s price is moving toward the $74,700 support zone after retracing from its recent high of around $97,000.
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