BTC key resistance level and trend analysis: 351,000 have changed hands

According to news from Hash World, crypto analyst Murphy stated that BTC has gained support at the key position of $112,000, which is significant. From the perspective of the MVRV extreme deviation pricing range, the trend oscillation range that started in April has always operated between the orange line and the yellow line, with the current lower channel price at $112,000. As long as it does not fall below this line, the trend will continue, and the rebound peak is expected to reach the upper channel price of $124,000. Additionally, URPD data shows that as of today, 351,000 BTC have changed hands between $112,000 and $114,000, increasing by 80,000 since August 3. Currently, $117,000 to $118,000 has become the most critical resistance level; if it is not broken through, BTC may still retreat to $112,000. The most ideal scenario is for the price to consolidate between $112,000 and $117,000, absorbing weak positions and accumulating strength for subsequent breakthroughs.