Bitcoin Retests Critical $109,000 Cost-Basis Band
- Bitcoin is currently retesting the significant $109,000 cost-basis band.
- This level has historically been a key turning point for Bitcoin’s price movements.
- Holding above this band often triggers major rallies; falling below may lead to declines towards the 0.75 band at approximately $98,000.
- The retest occurs during a mid-cycle consolidation phase supported by macro liquidity and demand from ETFs.
Trading Analysis
Trading Signal: NEUTRAL (Score: +1)
The retest of the critical cost-basis band suggests potential stability if support holds.
Price Levels:
Current: Not specified
Support: $109,000 | Resistance: Not specified
24h/Recent Range: Not specified
Catalysts & Timeline:
• Near-term: None specified
• Upcoming: None specified
Risk Assessment:
• Potential decline toward $98,000 if support fails
Historical Context:
Historically, holding above the $109,000 level has triggered significant rallies.
The current retest of Bitcoin’s critical cost-basis band at $109,000 is pivotal as it navigates a mid-cycle consolidation phase. The trading outlook for $BTC remains neutral with potential for stability if support levels hold.
Source (3.2)https://cryptobriefing.com/bitcoin-retests-109k-cost-basis-band-historical-turning-point/?rand=59535
