The price of Bitcoin faces significant risks, major support has been broken
1 August 2025
According to analysts, the price of Bitcoin has dropped below $117,000, increasing the chances of 'gap filling'.
Analyst Mafi pointed out that there is a massive accumulation of 720,000 Bitcoins at this price level in the URPD chart structure, which indicates intense trading activity between buyers and sellers.
The break of this major support is a significant moment for market trends.
When chips are accumulated at a critical price, the market reaches a delicate position where the selection of limited liquidity becomes essential, with resistance being long but narrow between $116,000 and $119,000, making it sensitive to downward pressure.
Currently, the market is moving downwards, and 'double anchor structure' has entered a broad area between the ranges of $116,000 to $119,000 and $102,000 to $109,000.
Historically, if these resistance ranges hold firmly, the lower portion of resistance generally forms around $112,000 to $113,000, which is also a gap in the chart structure.
If the price of Bitcoin does not quickly return to $117,000 and does not utilize this support, the chances of gap filling will further increase.
Conversely, if the price quickly rebounds and remains stable above $117,000, the potential for significant price increases after a pullback will be higher.
This analysis is for educational purposes and should not be considered investment advice...
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This is a news piece, this is an analysis,
Please remember that this financial advice is not conclusive; if you intend to make any purchases or sales, please do your own research, 😊
