PANews reported on August 28th that CryptoQuant analyst burakkesmeci found that short-term Bitcoin holders (those holding for less than 155 days) have a significant impact on market sentiment, with their confidence often attracting new capital. Bitcoin is currently at a critical turning point in the 109,000 to 112,000 range. If the closing price breaks through this range this week, the upward trend is expected to strengthen; conversely, a break below this range could accelerate a correction. In the short term, 117.3,000 is resistance, 112,000 is a decision point, and 92.4,000 is support. Furthermore, the realized price for short-term holders is 108.9,000.PANews reported on August 28th that CryptoQuant analyst burakkesmeci found that short-term Bitcoin holders (those holding for less than 155 days) have a significant impact on market sentiment, with their confidence often attracting new capital. Bitcoin is currently at a critical turning point in the 109,000 to 112,000 range. If the closing price breaks through this range this week, the upward trend is expected to strengthen; conversely, a break below this range could accelerate a correction. In the short term, 117.3,000 is resistance, 112,000 is a decision point, and 92.4,000 is support. Furthermore, the realized price for short-term holders is 108.9,000.
CryptoQuant: If Bitcoin closes above the $109,000 to $112,000 range this week, the upward trend is expected to strengthen
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PANews reported on August 28th that CryptoQuant analyst burakkesmeci found that short-term Bitcoin holders (those holding for less than 155 days) have a significant impact on market sentiment, with their confidence often attracting new capital. Bitcoin is currently at a critical turning point in the 109,000 to 112,000 range. If the closing price breaks through this range this week, the upward trend is expected to strengthen; conversely, a break below this range could accelerate a correction. In the short term, 117.3,000 is resistance, 112,000 is a decision point, and 92.4,000 is support. Furthermore, the realized price for short-term holders is 108.9,000.
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