**Key takeaways:**

* Bitcoin failed to break the $98,000 resistance amid increased profit-taking.

* BTC price needs to close above $95,000 on the daily chart for a push to $100,000.

Bitcoin’s (BTC) price failed to break above resistance at $98,000 on May 3. Since April 22, BTC prices have formed daily candle highs between $93,000 and $97,900, but they could not close above $97,440.

_BTC/USD four-hour chart. Source: Cointelegraph/__TradingView_

Bitcoin price action has been choppy and within a narrow range for the past few days. With elevated profit-taking and a lot of supply in profit, markets could see volatile price swings toward key BTC price levels over the next few days.

## Realized profits above “statistical levels”

Senior researcher at Glassnode, CryptoVizArt.₿, said that Bitcoin’s rally to the $93,000-96,000 range has “pushed the profit-taking volume above the statistical levels.”

In other words, the Realized Profit/Loss ratio shows that the volume of Bitcoin being sold at a profit exceeds historical norms. This suggests heightened selling activity by investors locking in gains, often signaling potential market tops and increased sell-side pressure.

The chart below indicates that “for every dollar realized in loss, more than 9 dollars was realized in profit!” CryptoVizArt.₿ explained, adding:

> “The fact that the price is still above $93,000 is very surprising, which in > my humble opinion is also risky.”

_Bitcoin realized profit/loss ratio. Source: Glassnode _

As reported by Cointelegraph, BTC selling has been ramping up near the $95,000 level over the past few days as short-term traders book profits.

Crypto analyst Checkmate said that Bitcoin’s current market is at a key “decision point,” so Bitcoin must clear this price zone in the near term to avoid another major correction.

_**Related:**__**Bitcoin price cools going into Fed rate hike week, HYPE, AAVE, RNDR, FET still look bullish**_

Bitcoin’s supply in profit now stands at 86%, as per data from Glassnode. This high percentage often signals a bullish phase. However, it also indicates potential risks: when supply in profit exceeds 80-90%, historical patterns show increased profit-taking, particularly by short-term holders, which can lead to corrections.

Given these two scenarios, Checkmate pointed out:

> “We’re sitting right in the middle of a decision point, and all it will take > is one big red or green candle from here to convince people of a lower high, > or bull continuation, respectively.”

_Bitcoin distribution. Source: Checkonchain_

## Key Bitcoin price levels to watch

Bitcoin must flip the $98,000 resistance level into support to target higher highs above $100,000.

But first, the BTC/USD pair must close above $95,000 on the daily chart. BTC’s price dropped below this level on May 4, driven by profit-taking after the rally to $97,000.

_BTC/USD daily chart. Source: Cointelegraph/__TradingView_

​​One positive catalyst for the bulls could be continued demand from spot Bitcoin ETFs. Bitcoin ETFs registered $1.8 billion in net inflows last week, per Farside Investors’ data.

Another catalyst could come from Wednesday’s Fed interest rate decision meeting.

Meanwhile, the bears will attempt to keep the $98,000 resistance in place to increase the likelihood of pulling the price below $92,000. The immediate target below the previous range lows is at $90,000, i.e., the convergence point of the 100-day and 200-day SMAs.

Below $90,000, the next key area of interest remains between $85,000 and $75,000. Reaching $75,000 would erase all the gains after the 90-day tariff pause.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.