Bitcoin’s Next Move Hinges on Break Above $86,000 as Selling Pressure Eases

Forecast Trend Report by Period

Bitcoin is moving sideways ahead of a heavy resistance zone between $83,000 and $86,000, while selling pressure has fallen sharply from August levels.

Glassnode said on Sept. 9 that the market has reclaimed support at the lower end of the range but has yet to meaningfully test resistance at the top. Selling pressure has dropped to less than half the level seen in August, while selling by long-term holders has also slowed.

Supply in the upper price range has thickened. Glassnode identified a break above $86,000 as the key variable that will determine Bitcoin’s next direction, adding that a close above that level could signal the market has absorbed sell-side supply.

By contrast, the current positive market tone could weaken if selling pressure picks up again or if support between $62,000 and $65,000 breaks down.