The current price of Bitcoin has surpassed 2 important resistance levels
- SMA 111 at 91,300$
- The average cost of short-term holders is $93,200
The last time $BTC crossed this area was in October 2024, after 3 months of adjustment, and this is a signal marking the beginning of a bullish reversal.
It should also be noted that this could be a fake breakout similar to July 2024 when $BTC quickly fell back below the $92,000 area.
Only if $BTC holds above this area for a few weeks can a new reversal cycle be confirmed.
