#cryptotradingpro

$BTC Price Outlook: 7% Dip to $110K or Breakout to $141K? 🚀📉

Bitcoin ($BTC ) is at a crossroads, with short-term holders (STHs) shaping key support and resistance levels, according to Glassnode’s latest “The Week Onchain” report. Here’s the breakdown:

🔍 Key Support Test at $110K-$115K:

• A “cost basis gap” exists between $110K and $115K due to Bitcoin’s rapid rise this month, leaving little time for investor accumulation.

• This gap could act as a magnet, pulling $BTC price down 7% to “fill” the void, similar to CME futures gap behavior.

• Glassnode notes this zone is critical to watch for potential support if a pullback occurs.

📈 Breakout Target: $141K Resistance:

• If BTC breaks higher, STH profit-taking could cap gains around $140K-$141K, aligning with the +2σ band of STH cost basis.

• This level may see intense sell-side pressure as newer investors lock in profits.

⚖️ What’s Next?

STHs, holding for up to 155 days, are pivotal. Their cost basis (avg. purchase price) forms support during bull runs but also signals where profit-taking might halt rallies. The $117K-$122K zone shows heavy accumulation, but the $110K-$115K gap could draw prices lower before any breakout.

💡 No investment advice here—do your own research! What do you think: dip to $110K or push to $141K?