Summary
- Bitcoin (BTC) is sustaining its bullish trend after breaking above the key psychological resistance level of $80,000.
- Glassnode identified the next major resistance near $85,200, around the Active Realized Price.
- Glassnode said a break above the $85,000 resistance level will require strong spot demand, while profitability indicators and institutional demand indicators also remained positive.
Forecast Trend Report by Period
Bitcoin (BTC) has maintained its upward momentum after breaking above the key psychological resistance level of $80,000, with $85,000 emerging as the next major hurdle, according to Glassnode.
In a report published May 6, the on-chain analytics firm said Bitcoin recently climbed to about $81,000, breaking through all major resistance levels. The move marked an exit from the undervalued phase that had persisted since February and pushed the token above the market’s average purchase price.
Glassnode identified the next major resistance near $85,200, around the so-called Active Realized Price. The level represents the average acquisition cost of actively circulating supply rather than long-dormant holdings, making it a key threshold the market must clear for a broader advance.
Bullish momentum remains intact, but the market has entered a sensitive phase as it tests resistance. Strong spot demand will be needed to break above $85,000, Glassnode wrote.
The report also said profitability indicators and gauges of institutional demand remained positive.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
