BTC Price Grinds Against Resistance as Smart Money Leans Long
Bitcoin's price action has become labored as it grinds against $81,337 resistance. The Relative Strength Index (RSI) is in overbought territory at 80.21, and the MACD momentum has flatlined. This setup typically resolves lower more often than not, but there are signs of smart money leaning long.
Open interest in BTC futures dropped 4.39% over the last 24 hours while price remained elevated, which is a sign of profit-taking and position unwinding rather than accumulation. The top trader cohort - whales and institutional desks - has a long bias, with 50.7% positioned long.
The bull case requires a clean, high-volume daily close above $81,337, after which the short squeeze mechanics would kick in and the retail short book would start bleeding. If this happens, the next measured target becomes $82,770 - a roughly 6% move from current levels that could happen within 3 to 5 days.