According to an analysis published on August 28 by experts at CryptoQuant, short-term Bitcoin holders—those who have held the currency for less than 155 days—play a pivotal role in shaping market sentiment, and their behavior may contribute to attracting new liquidity to the digital asset.
Bitcoin is currently hovering between $109,000 and $112,000, in an area considered a critical inflection point. If the weekly close manages to stabilize above this range, it could reinforce the uptrend, while any downside breakout would increase the likelihood of the market entering a correction.
Highlights of the technical levels (until August 26):
Key resistance level (1 week to 1 month): $117.3k
At this price, some investors who bought at previous highs may turn to selling, putting pressure on the continued rise.
Short-term decision area (1 to 3 months): $112,000
The price action around this level will determine the near-term direction of the market, whether it will continue rising or begin to decline.
Important support level (3 to 6 months): $92.4K
This level represents a potential support floor if prices experience a new downtrend.
Analysts also point out that the current price for short-term Bitcoin holders is $108.9,000, which serves as an additional benchmark for monitoring market movements.
Accordingly, Bitcoin trading within the 109K-112K range will be a crucial factor in determining the price trajectory in the near term. Experts advise investors to closely monitor these levels to make more balanced investment decisions.
