On July 18, glassnode posted on social media that the Bitcoin price recently reached above the short-term holder cost basis (+1 standard deviation) at around $120,000, a level that historically often forms a resistance point during strong upward trends. If the current trend continues, the next key resistance level will be near +2 standard deviations (around $136,000).
Glassnode: If the Bitcoin rally continues, the next key resistance level will be around $136,000
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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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