Analysis: Bitcoin has not yet broken through key resistance levels, short-term holders' behavior may determine the trend
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Odaily Odaily News Crypto analyst Ali said on the X platform that Bitcoin is currently facing a key price resistance level. Ali emphasized that the Short-Term Holder Realized Price is currently around $63,250, and BTC has been struggling to break through this level since June 22. Ali explained that in a downward trend, this price level often becomes resistance because short-term holders are more inclined to sell when the price falls below the entry point. Analysts warn that the market may face continued selling pressure before BTC re-converts this area into a support level.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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