Bitcoin Liquidation Cluster Near $90k Highlights Key Resistance Level

Glassnode has identified a significant liquidation cluster for Bitcoin near the $90,000 mark. This cluster represents a critical level where leveraged short positions could be forced to close if the price reaches this threshold. The data also highlights smaller liquidation clusters around $83,000 and $75,000, which could influence the next major price movement.

On-chain data aligns with historical price action near the $90,000 resistance level, providing traders with sharper Bitcoin price prediction models. As of the latest data, Bitcoin is trading at $85,439.66, holding within the Bollinger Bands. The upper resistance is set at $86,137.08, while the bullish EMA50 at $84,360.93 and EMA200 at $81,127.23 offer layered support.

The MACD golden cross at 272.65 confirms the strength of the current trend, and a neutral RSI at 59.89 suggests there is room for continuation without immediate overbought pressure. These technical indicators provide a balanced view of Bitcoin's short-term price dynamics.