Key Bitcoin Price Levels for Short-Term Trading Analysis

Analyst Burak Kesmeci identifies the critical price levels for Bitcoin: support at $82,800 and resistance at $92,000. The analysis focuses on the cost basis for traders, suggesting potential bullish trends if price movements cross these levels. Bitcoin ETFs also withdrew 1,725 BTC, indicating institutional sentiment may impact market dynamics shortly.

Bitcoin is experiencing a range-bound movement between $83,000 and $86,000. Analyst Burak Kesmeci has noted critical price levels for short-term trading. According to Kesmeci, price support is at $82,800 and resistance at $92,000, offering key insights into Bitcoin’s potential movements.

Kesmeci’s analysis centres on the average cost prices of new traders over the last 1-4 weeks, indicating that the realised price of $82,800 serves as immediate support. This implies many buyers at this level remain profitable, thereby defending it as a psychological barrier. The $92,000 resistance is significant for 1–3 month BTC holders and represents a critical point where investors tend to liquidate their holdings once they break even.

The interaction between these two price levels is noteworthy, as many short-term bullish trends traditionally occur when recent investor cost bases surpass those of holders over longer periods. This dynamic signals increased confidence among traders, often leading to market rallies. Currently, Bitcoin’s trading price of approximately $85,000 remains above the support level but below the resistance.

Furthermore, both the recent and longer-term investor cost bases have declined over the past two months, suggesting a hesitance among new buyers. Kesmeci emphasises that a surge above $92,000 is necessary for confirming bullish momentum in Bitcoin’s price.

In related news, Bitcoin ETFs have withdrawn 1,725 BTC, valued at $146.92 million, over the past week. This development suggests heightened negative sentiment among institutional investors that could further contribute to market uncertainty. Bitcoin is currently trading at $85,249, reflecting a daily price change of 0.89% and losses of 0.58% over the week.