Bitcoin (CRYPTO: BTC) is slowly pushing up to $100,000, but traders warn the zone offers little clarity on near-term bullish or bearish direction.
Bitcoin’s Key Price Zones
Analyzing on-chain data, trader Snow said Bitcoin’s swift rally from roughly $89,000 to $97,000 created a false sense that the market had cleared major resistance.
According to Snow, the move occurred largely because resistance was thin, not because of underlying strength.
The $100,000 area, by contrast, is described as a dense liquidity zone where both long and short positions are frequently trapped. Snow characterized it as a control area designed …