The price of Bitcoin continued to make a deep impression this weekend, and strongly recovered from falling to $ 101,000 in late Blues. From a broader point of view, BTC aims to score $ 110,000 and try to recover the highest price ever. Where is the next obstacle of this recovery journey as Premier Cryptocurrency is already closed to $ 106,000?
BTC prices face a significant resistance of more than $ 106K.
Burak Kesmeci, a chain analyst from a new post on Social Media Platform X, has revealed two major levels of important for the long -term trajectory of bitcoin prices. This analysis is based on the realization price of a specific investor class known as a short -term holder (STH).
Bitcoin short -term holders are often famous for their response and speculative characteristics because they are often caused by sudden price fluctuations. Therefore, these investors tend to open and close their positions in a short period of time.
Kesmeci has released three important levels based on the realization price of investors within a certain incomplete transaction production (UTXO) age in his position on X. Specifically, the on-chain analyst emphasized the cost of investors within the age of one-week-four weeks ($ 106,200), 1 month-3 months ($ 87,300), and 3 months-6 months ($ 97,500).
Source: @burak_kesmeci on XAccording to KESMECI, Bitcoin prices will face a significant resistance at about $ 106,200, about $ 106,200 for one-week to four weeks. The theoretical basis for this is that when the STH returns to the cost of the loss, it can close the position to the formation of downward pressure and resistance level.
KESMECI, on the other hand, emphasized the realization price ($ 97,500) of short-term investors within the age of three to six months. Analysts can mention that investors in this class can form a support cushion in consideration of the opportunity to defend their position as a realization price.
In essence, this warm chain data suggests that bitcoin prices can access major resistance levels of more than $ 106,000. Successful violations of this level can allow investors to return to premium cryptocurrency at a record high of $ 111,871.
Bitcoin price at a glance
At the time of this article, the price of BTC was about $ 105,700, an increase of 1.3% over the last 24 hours. According to Coingecko’s data, market leaders have increased more than 1% over the last seven days.
The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView
Istock’s main image, TradingView chart
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