Bitcoin has been stuck in a narrow price range between $68,000 and $69,000, mainly due to the resistance it faces. Let's examine why Bitcoin finds it hard to overcome the current resistance.

Bitcoin Resistance Area

Bitcoin has entered an area filled with numerous resistance zones. The largest one is at $69,000, which pushed the price down. Currently, Bitcoin is trading at $68,143, below the support level of $68,300, which has become an active resistance zone.

Other Analysis Data

The Bitcoin liquidity chart shows no buyers in the current zone, potentially leading to a drop below $68,000. Whale order data indicates large traders are waiting for a rise to short. In the past 24 hours, liquidation values fell under $100 million, with $87.97 million in short trades affecting 37,000 traders.

What to Expect?

With the available whale and liquidity data, Bitcoin appears headed for a correction. However, known for comebacks, it may be supported between $68,300 and $69,400. External economic events may also impact volatility.

Significant resistance zones and market events continue to pose challenges for Bitcoin's growth, yet its ability to rebound is encouraging. The key remains surpassing the resistance area.