Bitcoin DIP to $110k or $141k BREAKOUT? What Will Happen:
Bitcoin is at a pivotal moment, and short term holders are dictating the next big move! New research from Glassnode warns that while these holders provide key support, there's a significant "air gap" in cost basis between $110,000 and $115,000. This means a 7% dip to fill that gap is a real possibility!
Glassnode suggests that Bitcoin often "fills" these voids, much like the famous CME gaps. So, while a pullback could be on the cards to test that $110,000 support, it's crucial for the market to reconfirm strong buying interest there.
But don't get too bearish! If the market rallies convincingly higher, short term holder profit taking might kick in around $140,000. This level, identified by Glassnode as the "+2σ band," could present the next major zone of resistance. So, while we might see a dip first, a breakout above this level could send Bitcoin into true price discovery! Get ready for some major action!
