Bitcoin has been moving in a narrow price range lately. On the one hand, the price faces strong resistance around $76,000, and on the other hand, it is supported by the increasing buying liquidity in the $73,000-73,500 band. Expert analysts point out that the price pressure especially between these two main regions may lead to a sharp movement in the coming period.
Price Congestion and Liquidity Zones
Sharing the liquidity map of the BTC/USDT parity on Binance, Daan Crypto Trades emphasized that Bitcoin oscillates between two main liquidity zones between $ 73,000 and $ 76,000. According to the map, a large liquidity pool has formed, especially around $73,000-73,500. This area stands out as the first support point from which the price can retreat in downward movements.
In these liquidity regions where leveraged transactions are intense, liquidation of positions may lead to an acceleration of price movement. Analysts point out that the current support band could be quickly tested if the price breaks down.
In the chart, he stated that Bitcoin repeated its local peak in March at $ 76,000 yesterday and this level could not be exceeded in the last two attempts. Therefore, the $76,000 region stands out as a critical threshold for short-term resistance.
For now, the price is stuck between bottom liquidity support and ceiling resistance. In a possible loss of momentum, the price could drift towards the $73,000-73,500 range. However, if the buyers can push the price above $76,000 with a strong move, the resistance structure may be broken in the short term and pave the way for an increase.
Return to January Resistance and the Expected Breakdown
According to the chart analysis shared by Elja, Bitcoin has technically climbed back to the most important resistance zone seen since the beginning of the year. The area that caused the price to decline rapidly in January is currently being tested again, and investors are awaiting confirmation of a permanent breach of this level.
Bitcoin is currently trading at $74,311 and continues its price movement in the gray resistance zone in the middle $74,000 band. The sharp decline following the rejection of this area during the rise in January causes investors to approach cautiously.
The analyst states that making early comments before a clear breakout occurs this time may be risky. Since there has not yet been a reassuring close above the current resistance area, it is stated that the possibility of a downward correction in the price should not be ignored.
The real question for now is whether Bitcoin can make a daily close above this resistance band. If the level is exceeded and becomes support, it is predicted that a stronger market structure may be formed in the medium term, otherwise late buyers may face losses again.
