Bitcoin faces $1.76 million BTC cluster between $94,125 and $99,150

Bitcoin has Enter important areas In recent days, the price area of ​​$94,500 is an increasingly important battlefield due to its short-term trajectory. Although the leading cryptocurrency has been attempted several times to clear the area During the latest rally It has repeatedly rejected, highlighting strong resistance.

Despite these setbacks, the data on the chain suggests a large accumulation of whales Note on encrypted communicationthe undercurrent that suggests bullishness remains strong, as Bitcoin appears to end on a closed end in April 2025.

Heavy resistor clusters range from $94,125 to $99,150

According to crypto analyst Ali Martinez Shared insights From the on-chain analysis platform intotheblock, Bitcoin is Encountering heavy resistance Between the price range of $94,125 to $99,150.

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It is worth noting that his post on social media platform X shows that about 2.61 million wallet addresses in the area have accumulated about 1.76 million BTC in the area, making it one of the most dense supply barriers in Bitcoin’s current market cycle.

As shown in the figure below, about 1.26 million addresses ranged from nearly 843,000 btc between $94,125 and $96,582, while another 1.35 million addresses reside between $96,582 and $99,146 and hold about 917,000 BTC. Holders of this concentration will create a huge wall that Bitcoin must break through decisively if they are to continue upwards into next month.

A strong and decisive daily or weekly close of more than $96,600 could invalidate the overhead resistance here, setting the next target area at $99,150. Ultimately, the buying momentum here will clear the path to Bitcoin price Target $100,000 and beyond again.

Instead, repeated failures in the area could result in lower support levels retesting around $93,000 and $84,000, a significant amount of 678,000 BTC and 759,150 BTC, respectively.

image From X: ali_charts

Bitcoin’s bullish structure remains intact

Even if the resistance zone between $94,000 and $99,000 poses recent challenges, the technical model suggests that the Bitcoin rally has just begun. Another famous crypto analyst, known as the Titan of cryptocurrency Reiterate this Bitcoin’s long-term target value is around $125,000, and it is still valid.

This target comes from the giant reverse head and shoulder (H&S) pattern identified on the Bitcoin monthly candlestick chart.

image From X: Titan encryption

chart Shows a clear breakthrough Earlier this year, Bitcoin lowered its current all-time high to $108,790, above the inverse H&S group neckline earlier this year. From then on, the price action was followed by a retest that repositioned the company above the support trendline on the monthly schedule.

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According to analysts, this technical structure shows that Bitcoin can rebound soon and quickly hit a new $125,000. Of course, this timeline will also depend on the current support zone stability of approximately $85,000 to $87,000.

Bitcoin is trading at $94,147 at the time of writing

Featured images from Unsplash, charts for TradingView