Note: $108,000 - $110,000 is an important support level for Bitcoin.
Reasons include:
1. The 120-day moving average currently corresponds to $109,800, which is generally considered the line of demarcation between bulls and bears. This is the first time it has retraced to touch this line.
2. On-chain indicators show that the cost for short-term holders is within this range, which is generally regarded as important support.
3. The midline support on the weekly Bitcoin chart.
4. The drop to near previous highs also represents a support area for the chips. #BTC走势分析
