Key Bitcoin Levels to Watch at Decision Point
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Bitcoin price is in a tug-of-war between the bulls and bears, with big overhead resistance at $98,000 in place and several key support levels below.
Bitcoin failed to break the $98,000 resistance amid increased profit-taking.
BTC price needs to close above $95,000 on the daily chart for a push to $100,000.
Bitcoin’s price failed to break above resistance at $98,000 on May 3. Since April 22, BTC prices have formed daily candle highs between $93,000 and $97,900, but they could not close above $97,440.
Bitcoin price action has been choppy and within a narrow range for the past few days. With elevated profit-taking and a lot of supply in profit, markets could see volatile price swings toward key BTC price levels over the next few days.
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