Bitcoin May Face Correction Toward $110,000 Amid Low-Volume Gap and Short-Term Holder Accumulation
Main Idea
Bitcoin may face a correction toward $110,000 due to a low-volume 'air gap' and heavy accumulation by short-term holders, signaling potential profit-taking pressure and a key support zone.
Key Points
1. A low-volume 'air gap' exists between $110,000 and $115,000, which may act as a support zone if Bitcoin's price corrects.
2. Short-term holders (STHs) have heavily accumulated Bitcoin between $117,000 and $122,000, increasing the likelihood of profit-taking and downward pressure.
3. STHs tend to sell quickly during price drops, making their accumulation a significant factor in Bitcoin's price volatility.
4. A correction to $110,000 would align with Bitcoin's historical behavior of filling low-volume gaps, though this is not guaranteed.
5. Investors are advised to monitor these on-chain signals and practice risk management, such as setting stop-loss orders, to navigate potential market corrections.
Description
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