Bitcoin Trapped Between Strong Support and Dense Resistance
Bitcoin's price has been stuck between $62K-$65K and $83K-$86K due to a significant supply cluster.
A major August short squeeze consumed 86% of available short liquidation fuel, triggering a 26% rally but leaving behind a dense resistance zone at $83K-$86K.
This zone acts as a ceiling for Bitcoin's price growth, and for the cryptocurrency to break above it, it must absorb the remaining liquidation pressure and overcome profit-taking by long-term holders.