Bitcoin Under Upward Pressure: Between Positive Signals and Technical Resistances

The price of Bitcoin is at a critical inflection point. While the asset maintains an upward short-term trend, with a +1.88% change in the last 24 hours, reaching $67.26K, analysts warn that market conviction may not be strong enough to sustain a continued move higher.

Positive Technical Signals Contrasted with Weak On-Chain Fundamentals

According to technical analysis from specialized platforms like NS3.AI, Bitcoin has shown a bullish divergence on its short-term charts, particularly visible on the 4-hour timeframe. This technical setup typically suggests a higher likelihood of upward movement. However, three critical on-chain metrics paint a more cautious picture.

The Realized Price Distribution of UTXOs, the documented increase in exchange reserves, and the low Spent Output Profit Ratio (SOPR) indicate that investors are not displaying the expected confidence. These indicators point to moderate conviction in the market, where many participants seem hesitant to commit capital at these price levels.

Resistance Levels Containing the Upward Movement

Bitcoin faces multiple technical barriers that could limit its bullish potential. Analyses identify three critical resistance zones: $76,980, $79,360, and $84,640. These levels represent points where selling pressure has historically intensified, halting previous appreciation attempts.

Outlook: What Is Needed to Sustain the Rally?

For Bitcoin to confirm a more sustained upward trend, signals of significant institutional support and a convergence between positive technical indicators and strengthening on-chain metrics are required. In the absence of these confirmers, the current movement may simply be a technical rebound within a consolidated range, limiting short-term upside potential.