The post Two Analytics Firms Identify Two Critical Zones to Watch in Bitcoin Price appeared on BitcoinEthereumNews.com.

Leading cryptocurrency analysis firms Glassnode and GreeksLive have shared their latest views on Bitcoin’s price action, outlining key support and resistance levels amid ongoing market volatility. Options analysis firm GreeksLive noted that investors are closely watching the $82,000 level as a vital support for Bitcoin. According to their latest report, it is essential that this level is maintained in order for Bitcoin to continue its upward momentum on higher time frames. The broader crypto community is quite concerned about Bitcoin’s recent decline, especially after the asset saw a sharp 17% drop in three days. Analysts and traders are now debating whether this drop is an isolated incident or a signal of a larger market correction. “ Market participants suggest that Bitcoin’s price action could turn choppy following the pullback and a retest of the $88,000 level could be seen before marking the next major move. On-chain data provider Glassnode has identified a key resistance zone between $96,000 and $98,000. The firm noted that Bitcoin saw strong accumulation in this price range between late December 2024 and February 2025, leading to a dense supply cluster. “While some addresses in these price ranges are reallocating their BTC, this cluster of supply remains extremely concentrated and could act as strong resistance if we revisit this level,” Glassnode wrote in a recent social media update. *This is not investment advice. Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data! Source: https://en.bitcoinsistemi.com/two-analytics-firms-identify-two-critical-zones-to-watch-in-bitcoin-price/

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Filed under: News - @ February 28, 2025 3:22 am