Technically, the price of Bitcoin at the time of reporting is testing a crucial resistance level around 97,530 dollars. If it breaks through this level, Bitcoin could continue its upward momentum and aim to establish new all-time highs.
Currently, the price is still fluctuating within a certain range. Although there have been some corrections, overall the price remains stable around significant levels.
If Bitcoin can surpass the resistance level of 97,530 dollars, it is likely to quickly approach the price zone of 98,300 dollars. Therefore, analysts are waiting for a clear breakout as the price continues to consolidate.
Although the market is still in a correction phase, this accumulation process could serve as a springboard for a new breakout. However, for that to happen, buying pressure needs to be strongly reinforced in the coming days.
