Analysis: Bitcoin Forms a Key Resistance Zone Near the $117,000 Price Level
According to a report by Jinse Finance, charts released by glassnode indicate that Bitcoin's CBD heatmap shows its supply is highly concentrated around the $117,000 price level, forming a key resistance zone. Breaking through this level could clear the way for Bitcoin to reach areas with thinner liquidity, while failure to break through may result in a prolonged consolidation period or a potential price pullback.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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