Can Bitcoin hold support after breaking $90,000? This key price level is very important.

Question

The recent market for Bitcoin is quite strong, having just broken through $90,000, and many people are starting to discuss the possibility of a “Christmas rally.”

From the cost distribution heatmap, the current key support level is in the range of $84,000 to $85,600. Why? Because there are about 976,000 Bitcoin investors who have bought at this price level. In other words, if we can hold the $84,000 mark, there is a chance to stop the downward momentum.

Interestingly, since November 22, Bitcoin has been fluctuating within a wide range of $82,000 to $95,000. The longer the consolidation period lasts, the more intense the subsequent rebound tends to be. This is an old rule — a long oscillation period means that the chips are fully organized, and once the direction is determined, it is easy to form a relatively strong market. Therefore, the focus next is still on whether these key levels can be effectively broken.

NFTregretter · Accepted Answer

84,000 can't hold on, it would really be embarrassing. Where are the 976,000 tokens?

MEVictim · Answer

If we can&#39;t hold 84,000, then we&#39;ll just wait to be trapped, anyway I&#39;ve already been trapped haha.

GasFeeTears · Answer

$90,000 without a bottom line would be awkward, let&#39;s see if 84k can hold up.

LiquidationAlert · Answer

Wait a minute, 976,000 Bitcoins at the price of 84,000? This chip accumulation is too outrageous, can it really hold?

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After consolidating for so long, it should have rebounded, otherwise how can it be called a "Christmas rally", haha

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The key is still whether it can break 92,000, otherwise it&#39;s all empty.

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If it can&#39;t hold 84k, how much support is left below, I&#39;m scared.

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The longer it oscillates, the stronger the rebound? Then we can just wait a bit longer.

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976,000 at that price... is this data real? It feels a bit suspicious.

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To be honest, 90,000 just like this, feels like there&#39;s no momentum left.

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If it breaks 84,000, where does it go? Not even a target has been given.

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If this wave really gets dumped, the shorts will feast like a full banquet.

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I&#39;ve heard the theory of chip consolidation a hundred times, but the key is the direction, fren.

GasOptimizer · Answer

976,000 pieces in the 8.4k range? The data is quite accurate, but the question is whether it can hold this level; it all depends on how the Large Investors move on-chain. Waiting to see.

TokenTherapist · Answer

If 84,000 can&#39;t be held, this wave will really be a disaster.

Can Bitcoin hold support after breaking $90,000? This key price level is very important.

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