Bitcoin Price Surge: Analysts Eye $84K as Key Resistance Level

Bitcoin's recent price movement has caught the attention of analysts and investors alike. The world's largest cryptocurrency has started May on a strong note, rising nearly 2% after breaking key resistance levels.

According to crypto analyst Ali Martinez, Bitcoin is currently trading inside a tight range between $75,000 and $80,000. His latest $BTC liquidity heatmap shows heavy activity around key price levels.

The most important level right now is the $80,000 mark, which has built up a large amount of short positions, making it a strong resistance zone. If Bitcoin manages to break above this level, it could trigger a short squeeze, pushing the price even higher towards $84,000.

Another popular crypto analyst, Michael van de Poppe, also shared a bullish view on Bitcoin. He noted that the strong start to May suggests Bitcoin could break higher, helped by fresh ETF inflows at the beginning of the month.