Analysis: If BTC price breaks through $116,000, it may revive the upward trend
Jinse Finance reported, according to charts released by Glassnode, that Bitcoin is currently consolidating within the $104,000 - $116,000 range, with investors showing clear signs of accumulation. Data from the futures market and ETF capital flows indicate a cooling in demand. Analysis points out that if the price can break through the $116,000 resistance level, the upward trend may resume; however, if it falls below $116,000, there is a risk of a pullback to the $93,000 - $95,000 range.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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