Analyst: Bitcoin Faces Little Resistance to the Upside, $83,300 Is the Next Key Resistance Level

BlockBeats News, August 21st, On-chain analyst Ali Charts stated that Bitcoin has currently formed a strong support level in the $61,849 to $63,111 range, with over 2 million BTC transacted in this area previously. More importantly, the Unspent Profit/Loss Distribution (URPD) data indicates a lack of significant resistance levels above Bitcoin.

The analysis also pointed out that if BTC is able to break through $75,733, the next major supply zone may be located in the $83,307 to $84,569 range, where approximately 1 million BTC has changed hands before.