Glassnode: The resistance zone for Bitcoin at $87,000 to $87,800 remains effective, and a breakout from this range may trigger significant volatility

Glassnode published that the key price level for Bitcoin in the fourth quarter is still being held. The institution previously pointed out in the "Charting Crypto" report with Colin Basco and the Coinbase Institutional team that BTC faces resistance in the range of $87,000 to $87,800. Since then, the Bitcoin price has been blocked in that range and continues to oscillate and consolidate below.

Glassnode believes that if Bitcoin breaks through the current consolidation range, the market may experience significant volatility, but there is still a large area of selling pressure around $90,000 above.