Potential trading zones for Bitcoin. Crypto analytics platform IntoTheBlock announced possible resistance and support levels for Bitcoin (BTC) based on on-chain data. IntoTheBlock published an analysis of support and resistance levels for Bitcoin. Highlighting three critical levels in line with on-chain data, the company pointed out the $35,000 and $39,000 levels as resistance and the $30,000 band as the support level in a possible correction.
Looking at the platform’s statement, it was stated that the $35,000 level, where 664,000 users purchased 340,000 Bitcoins, could act as an important resistance, while if this level is exceeded, the purchase of 333,000 Bitcoins in the $38-39,000 band could be another resistance. If this level is breached, the next point of concentrated trading activity is around $38,000 to $39,000, where 333,000 BTC were purchased.
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