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Analysis: BTC Chip Structure Returns to $117,000 Support Range, First Rebound Target is $125,000
Summary: According to chain data analyst Murphy, BTC returning to $120,000, although it cannot be considered stable at the moment, at least it can be confirmed that: in terms of chip structure, BTC has returned to the price range supported by $117,000, making the turnover zone of $112,000 to $116,000 a safe zone, almost consistent with ...
According to chain data analyst Murphy, BTC returning to $120,000, although it cannot be considered stable at the moment, at least it can be confirmed that: in terms of chip structure, BTC has returned to the price range supported by $117,000, making the turnover zone of $112,000 to $116,000 a safe zone, almost consistent with the price trajectory inferred based on the double anchor structure. From the perspective of MVRV extreme deviation pricing range, BTC is still operating between the channels formed by the orange-yellow line. It may find support at the lower rail and encounter resistance at the upper rail. The current upper rail position on the operating channel is $125,000, which is also the first target for rebound within the channel. If it successfully breaks through and does not fall below on retracement, it will likely move up to the second target of $137,000. If it encounters resistance, it will test the key support level of $117,000 again. Analysis is for learning and communication purposes only, not as investment advice.
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Link: Analysis: BTC Chip Structure Returns to $117,000 Support Range, First Rebound Target is $125,000 [Copy]
