Bitcoins Path to New Heights: Overcoming Key Resistance Levels Translation: Bitcoins Path to New Heights: Overcoming Key Resistance Levels

To reach new heights, the price of the leading cryptocurrency must surpass the «offer clusters of major buyers» in the ranges of $93,000-$96,000 and $100,000-$108,000, as noted by Glassnode representatives.

Digital gold has already managed to overcome the resistance at the $89,000-$90,000 mark, marking an exit from the «high-risk zone,» according to Bitcoin Vector.

«Bitcoin needs to gain momentum to break free from the consolidation that has been forming since the all-time high was reached,” analysts explained.

At the time of writing, the first cryptocurrency is trading around $91,356. Over the past week, the asset has appreciated by approximately 6%, according to CoinGecko.

As per Bitcoin Vector, a «full breakout» of the consolidation zone between $93,500 and $95,000 is essential for reinforcing the upward trend.

«During this process, the risk-off indicator should drop into the ‘safe zone.’ This will confirm buyers’ dominance over sellers and the beginning of momentum formation,» the researchers noted.

In their view, without momentum and with high risks persisting, any increase will be merely tactical and not indicative of structural recovery.

According to Bitcoin Vector, the market is still in the «high-risk zone,» but the situation is stabilizing: selling pressure is easing, and spot demand is «finally starting to shift the balance of power.»

«The main question is: Is the worst behind us? The situation will become clearer upon retesting the $94,000-$95,000 range — this is a crucial milestone for confirming a trend change,» researchers emphasized.

The popular market sentiment indicator still indicates «extreme fear,» but its values are gradually rising.

Analysts from Santiment pointed out that the recent surge in bearish sentiments on social media historically heralds positive momentum in the market.

«Most significant reversals occur when retail investors are nearly devoid of hope. Typically, markets move against the crowd’s expectations,” the experts stressed.

The improvement in sentiment is also reflected in the Bitcoin ETF sector, where moderate capital inflows have been observed for the second consecutive day. Ethereum-based funds have recorded net inflows over the past four trading sessions.

It’s worth noting that Glassnode analysts have identified the confirmation level for the bear market phase.