Bitcoin Price Analysis by Glassnode and GreeksLive

Leading cryptocurrency analysis firms Glassnode and GreeksLive have recently shared insights on Bitcoin’s price action, highlighting critical support and resistance levels amid market volatility.

Key Support Level

Options analysis firm GreeksLive indicated that the $82,000 level is crucial for Bitcoin investors. Maintaining this level is essential for Bitcoin to sustain its upward momentum on higher time frames.

Recent Market Concerns

The crypto community is worried about Bitcoin’s recent downturn, especially after a sharp 17% drop within three days. Analysts debate whether this decline is a singular event or an indication of a broader market correction.

Future Price Action

Market participants predict potential choppy price action for Bitcoin post-pullback, with a retest of the $88,000 level anticipated before any major movements occur.

Resistance Zone Identified

On-chain data provider Glassnode has pinpointed a significant resistance zone between $96,000 and $98,000. The firm noted that Bitcoin experienced strong accumulation in this price range from late December 2024 to February 2025, resulting in a dense supply cluster. Glassnode stated, “Although some addresses in these ranges are reallocating their BTC, this supply cluster remains concentrated and could be a strong resistance if visited again.”

*This is not investment advice.