Bitcoin is nearing critical support and resistance levels. Data analysis shows that the current price of Bitcoin hovers around $92,000.
Bitcoin’s 200-Day SMA Reaches $82,314
The popular crypto researcher highlighted Bitcoin's position amid increased volatility. According to on-chain data, the 200-day simple moving average has reached $82,314, which could be significant in the coming days.
STH 3M-6M Realized Price Touches $79.29k
The simple moving average often serves as a long-term support signal. Historically, Bitcoin has experienced strong buying interest when approaching the $82,314 level. The realized price for 3M-6M short-term holders has reached $79,290, indicating many investors would incur a loss if it falls below this threshold.
STH 1W-1M Realized Price Stands at $97,478
Along with support levels, Bitcoin also faces important resistance levels. The realized price for 1W-1M short-term holders stands at $97,478, and for 1-3 months at $99,395. If Bitcoin stays above $91K, it could extend the bullish momentum.
Current support and resistance levels could play a crucial role in Bitcoin's price movement. Investors and analysts will be watching for changes to assess potential prospects.
