Glassnode says BTC at 87000 to 87800 USD resistance zone
BIBIBI
AT A GLANCE
Glassnode says Bitcoin was rejected in the 87000 to 87800 USD range, and a breakout could lead to sharp volatility.
Article
Viewpoint: Bitcoin 87000 to 87800 USD resistance zone remains effective; a breakout from the range could trigger sharp volatility
According to BlockBeats,October 20, Glassnode stated that Bitcoin's key fourth-quarter price levels are currently still holding. The firm previously noted in its "Charting Crypto" report with Colin Basco and the Coinbase Institutional team that BTC is facing resistance at 87000 to 87800 USD. Since then, Bitcoin's price has been rejected in this range and has continued consolidating below it.
Glassnode believes that if Bitcoin breaks out of its current consolidation range, the market could see significant volatility, though a substantial concentration of selling pressure remains around 90000 USD.
Original link https://m.theblockbeats.info/flash/372821
Key points
01
According to BlockBeats,October 20 Glassnode stated that Bitcoin's key fourth-quarter price levels are currently still holding.
02
Glassnode previously noted in its "Charting Crypto" report with Colin Basco and the Coinbase Institutional team that BTC is facing resistance at 87000 to 87800 USD.
03
The original text stated that Bitcoin's price was subsequently rejected in this range and has continued consolidating below it.
04
Glassnode believes that if Bitcoin breaks out of its current consolidation range, the market could see significant volatility.
05
Glassnode says that a substantial concentration of selling pressure remains around 90000 USD.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
This is a market view: Glassnode considers 87000 to 87800 USD to be Bitcoin's current resistance zone and believes volatility could increase after a breakout from the consolidation range; substantial selling pressure may still be encountered around 90000 USD.
Why it matters to readers
The material views the 87000 to 87800 USD range as a breakout level to watch, while warning that pressure may continue to form around 90000 USD.
Beginners may watch whether the price breaks out of the stated range, but should not treat resistance, selling pressure, or volatility forecasts as certain outcomes.
Risks and unknowns
The resistance zone and concentration of selling pressure are Glassnode's analytical judgments; the material does not provide independently verifiable data.
Whether Bitcoin will break out of its current consolidation range remains uncertain.
Even if a breakout occurs, whether significant volatility will follow remains uncertain.
The material does not specify the criteria for determining that the "key price levels are still holding" or that a "breakout" has occurred.
Related Developments
Loading event timeline…
Related concepts
Resistance zone
This term is not in the glossary yet. Browse related concepts in the glossary.
