Bitcoin must break through 'this zone' to turn bullish…"A turning point has been reached"

An analysis said Bitcoin (BTC) prices are more likely to continue their uptrend if they break through two key zones.

Crazzyblock (Crazzyblockk), a contributor to CryptoQuant, told CryptoQuant on the 10th, "Bitcoin has reached a major resistance zone in the $106,000 range as of that day," and said, "Bitcoin is currently standing on the border between 'confidence recovery' and a 'downtrend.'"

Crazzyblock pointed to two zones as major resistance levels. Crazzyblock said, "Important indicators are the realized price (Realized Price) of holders under 1 month, $107,800, and the realized price of holders under 6 months, $111,900," and analyzed, "Bitcoin prices must recover these two zones and turn them into support for market confidence and bullish sentiment to be revived." He added, "Because short-term holders need to return to the profit zone for selling pressure to decrease and holding intent to increase."

Meanwhile, Bitcoin prices briefly surged nearly 5% compared to the previous day on the day, buoyed by expectations that the U.S. federal government shutdown would be lifted. As of 9:43 PM that day, Bitcoin was trading at $105,924.24 on CoinMarketCap.