Analyst: $80,000 is a key resistance level for Bitcoin, a breakout could trigger a short squeeze to $84,000

Crypto analyst Ali Martinez stated that as May begins, Bitcoin is still oscillating within a narrow range, while order clusters at key price levels are forming, which may become the core area for large-scale liquidations.

Upper resistance: $80,000. This position serves as a major psychological and technical resistance, gathering a large amount of short liquidity. If broken, it may trigger a short squeeze, pushing the price quickly up to $84,000. Lower support: If $80,000 fails to break, the lower liquidity range includes $75,000, $73,000, and $70,000, which may support a pullback. He pointed out that the current market is in a tug-of-war phase between bulls and bears, and if the price effectively breaks through the $75,000 to $80,000 range on a daily basis, it may determine the overall trend for the month.