Analytics Platform Warns Bitcoin Is ‘Stalling’ Below Major Resistance Level, Says Breakout Won’t Happen Until This Happens
Analytics platform Swissblock is outlining the path forward for Bitcoin ( BTC ) amid stiff resistance at a level just below the all-time high.
According to Swissblock, Bitcoin is “stalling below $110,000” and the upward trend is now under pressure as a broad trading range appears to form between the resistance level and a price of $100,000.
“Consolidation may last, but one thing’s clear: No breakout without strong fundamentals.”
Source: Swissblock/X
Bitcoin is trading at $104,447 at time of writing, around 7% below the all-time high of just under $112,000 reached last month.
Earlier in the week, Swissblock had warned that a failure by Bitcoin to break out amid a lack of fresh investor flows could lead to a double-top.
A double-top is an extremely bearish technical reversal pattern formed when the price of an asset forms two consecutive peaks, an indication that there’s a strong resistance level that the price is unable to pierce through.
Source: Swissblock/X
According to Bitcoin Vector, a joint report by Swissblock and on-chain analyst Willy Woo, BTC liquidity has been trending lower for the past couple of days, an indication of falling volume levels, a declining number of transactions and reduced activity.
But Bitcoin Vector says a further correction is unlikely.
“Here’s the interesting part: network growth remains stable, participants are not leaving the market.
This aligns with a key point from Bitcoin Vector: profit-taking remains low, meaning selling pressure is limited.”
Source: Bitcoin Vector/X
Follow us on X , Facebook and Telegram
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
Generated Image: Midjourney
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
XRP Weekly Chart Blue Lines Point to These Long-Term Price Targets
The 10-year US Treasury yield approaches 5.4%, with the AI halo unable to hide the "inflated" risks of the S&P 500
Behind the S&P 500's record high, only 30% of its constituent stocks are above their 50-day moving average, marking the narrowest market breadth at a record high since 1990. The Russell 2000 has fallen for five consecutive weeks, and high-yield bond yields have soared to 15%. Societe Generale warns that if US Treasury yields rise to 6% and oil prices reach $150, the S&P 500 could fall by more than 20% next year. In addition, some top-performing fund managers have completely exited AI stocks in favor of energy, stating that once financing dries up, it will be "game over."
Oil tanker freight reaches a sixty-year high: shipping oil from the US to China is more expensive than launching a rocket!
The freight for a single barrel of crude oil has soared to $41, approaching half the oil price, and for a single trip, the freight was once enough to buy an oil tanker. The Middle East crisis has led to a structural shortage of shipping capacity in the Strait of Hormuz, coupled with ship-to-ship transfers extending turnaround times. VLCC freight rates have skyrocketed from an annual average of $9.2 million to $77 million—an increase of more than eight times. Refiners’ profits are being rapidly eroded, the average price of second-hand oil tankers has reached a historic high, and, unusually, surpassed the price of new vessels.
Following the Drop but Not the Rise! Silver Trapped in Difficulties
The logic of AI and solar energy demand continues to play out, yet prices are falling against the trend—macroeconomic forces such as a strengthening US dollar and rising real interest rates have completely suppressed fundamentals. Speculative funds offloaded $1.6 billion in a single week, marking a yearly peak, while CTA net short positions reversed by $2.6 billion to the highest level this year. However, Goldman Sachs analysts believe that the extreme short positioning itself is building reversal momentum, highlighting an asymmetry; once macro headwinds subside, a retaliatory rebound could be easily triggered. After a similar shakeout last time, silver surged 15% in six weeks.
Crypto prices
More
