Bitcoin (BTC) continues to capture the attention of traders and investors alike as it remains in a crucial price zone.
Crypto analyst Ali, known online as @ali_charts, has identified a key support level for Bitcoin (BTC) at $82,690.
According to the analyst’s calculations, if Bitcoin fails to hold this support, it could face further downward pressure.
The chart accompanying Ali’s analysis shows that this support has significant backing from addresses that acquired Bitcoin in the range between $57,493 and $72,500.
With 1.8 million addresses at stake in this price zone, the support is not easily broken.
Key Resistance Level: $95,620
On the flip side, BTC‘s main resistance level to watch stands at $95,620. This is the price at which the cryptocurrency is likely to face significant selling pressure.
The resistance zone is backed by 1.6 million addresses, and with a total volume of 1.09 million BTC, it’s clear that there is substantial resistance in this area.
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