Analysis: Bitcoin Slightly Above Key Monthly Bull Market Support Level, Market in Recovery Phase
BlockBeats News, on September 4, CryptoQuant analyst Axel Adler Jr stated that any recovery could push the price of bitcoin back above $113,000, moving towards the fair thirty-day average value range. Recent bullish scenarios include a technical rebound to the $113,000–$115,000 range, with capital flows simultaneously stabilizing. The current price of bitcoin at $110,700 is slightly above the short-term holders' (STH) realized price of $107,600 (a key monthly bull market support level). On higher time frames, the outlook remains bullish, but the market is in a repair phase and is more sensitive to profit-taking.
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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