Bitcoin’s price has been stuck in a rut lately, with no clear breakout. But analyst Ali Martinez sees two crucial price points that could trigger a major bull run.
The Resistance Zones
Martinez, using data from IntoTheBlock, pinpointed two resistance zones Bitcoin needs to break through:
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$85,470: This is the upper end of a resistance zone starting at $83,023. A lot of trading activity happened around this price level historically (1.13 million addresses traded 607,200 BTC), suggesting strong potential selling pressure. Breaking through this level is key.
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$92,950:
This is the lower end of another resistance zone extending to $95,514. While less trading activity occurred here compared to the first zone, the amount of Bitcoin traded (627,410 BTC) still makes it a significant hurdle. Conquering both zones could send Bitcoin soaring.
A Crucial Support Level
However, there’s a crucial support level to consider: $80,450. This is the lower end of a support zone extending to $82,907. Significant buying activity happened in this range (738,580 addresses traded 516,770 BTC), acting as a potential safety net if the price dips.
Other Market Indicators
Interestingly, Bitcoin network fees dropped by 57.3% last week, indicating less user activity. Despite this, Bitcoin’s price only fell slightly (0.11%). The market’s reaction to recent US tariff announcements has also been surprisingly positive for Bitcoin, outperforming traditional stock markets.
