Bitcoin nears $85,000 resistance, key sell zone noted by traders

Bitcoin is approaching a significant resistance level, as a concentration of sell orders emerges between $83,500 and $85,000, creating uncertainty around its ability to sustain its current upward move toward $90,000. As of the latest data, Bitcoin trades at $83,904.38, reflecting a 1.06% gain during the most recent daily candle on TradingView. Market observer Ted Pillows has drawn attention to the dense group of sell orders short of $85,000, suggesting that significant buying activity is necessary to propel the price beyond this resistance. Pillows highlighted on X that “A lot of sell orders have been placed between $83,500 and $85,000,” and suggested the $90,000 mark remains within reach if buyers overcome this cluster.

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