news 
Bitcoin Price Analysis: Key Obstacle Standing in BTC’s Way to $100K
The Bitcoin market has been stuck in a state of indecision lately, with sellers unable to break below the crucial 100-day moving average at $96,000. This significant resistance level continues to be a battleground between bulls and bears, as any decisive action around this threshold is expected to dictate the next major trend.
Despite optimism surrounding Bitcoin’s potential to reach new highs, the current market dynamics have raised doubts among investors regarding the asset’s ability to break above the psychological barrier at $100,000. As we delve into the technical analysis of the cryptocurrency, it becomes clear that a key obstacle stands in its way, threatening to cap gains and potentially reverse the recent uptrend.
The 4-hour chart reveals a bullish continuation flag pattern, which has been unable to break above the $100,000 resistance level. This lack of buying power underscores the need for stronger demand before any significant upward momentum can be sustained. While there are multiple support zones beneath the current price that provide a buffer against potential losses, the probability of a rebound increases as a result.
In recent times, investors have been left questioning what is hindering the market from sustaining its upward trajectory. A closer examination of futures market metrics sheds light on this dilemma. The Bitcoin taker buy-sell ratio has shown a bullish reversal in the 14-day moving average, suggesting that buyers are regaining strength and could potentially regain control of the market.
If this trend continues and the ratio surpasses the 1.0 threshold, it would signify an influx of buying pressure, which might fuel the momentum needed for a renewed bullish rally.
Source: cryptopotato.com
