The main dishes to remember:
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Bitcoin could retain the area from $ 111,000 to $ 113,000, reflecting the rupture structure observed in the second quarter.
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The URPD metric shows that 5.5% of the BTC supply brought together between $ 110,000 and $ 113,000.
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The medium -sized fees have absorbed the distribution of whales of 715,000 BTC.
Bitcoin (BTC) joined almost 6% in September, defying its lower seasonality. After a solid weekly performance, the asset exceeded a major supply area between $ 115,600 and $ 117,300. A decisive closure greater than $ 117,300 would point out a potential thrust to new heights.
With the next meeting of the Federal Open Market Committee (FOMC) and the expectations of interest rate drops on Wednesday, Bitcoin undergoes a slight correction on Monday, below $ 114,500. The analysis suggests that this decline could present a favorable purchase opportunity.
From a technical point of view, the critical retest area is between $ 111,000 and $ 113,000. This reflects the structure observed in Q2. In June, the BTC rallied from less than $ 100,000 to $ 109,000, consolidating just below the resistance of $ 110,000.
After an initial rejection, the market absorbed liquidity nearly $ 105,000 before breaking towards fresh summits in July above $ 120,000.
A similar model seems to develop now. If the current trend must remain intact, Bitcoin should contain the range from $ 111,000 to $ 113,000. A deviation below this level would weaken the optimistic case, while stability could confirm another structural escape.
The relative resistance index (RSI) also aligns with this view, after recovering level 50 and now testing it as a support. Historically, this configuration preceded a renewed purchasing momentum, as evidenced in June.
Crypto Shayanbtc analyst noted that minors’ behavior reinforces constructive perspectives,
“The combination of a change in technical structure and an accumulation of minors provides a constructive perspective. As long as $ 112,000 hold, Bitcoin seems to be well positioned to support the momentum. ”
Related: Bitcoin Daily Dip reaches 2% as a “classic” BTC price precedes FOMC
Bitcoin investors “fresh” have arrived, explains the analyst
One of the reasons why the $ 113,000 zone could be technical support is the Metric URPD (UTXO Rendeud Price Distribution), which corresponds to the distribution of the Bitcoin offer by purchase price. According to recent data, 5.5% of the significant BTC supply increased from $ 110,000 to $ 113,000, which highlights this band as one of the most actively accumulated ranges in recent weeks.
In other words, a substantial base of holders has positioned itself here, suggesting a conviction that the level represents a long -term value.
This accumulation trend is further reinforced by the behavior of wallet cohorts. Since July 2024, shark portfolios (holding 100 to 1,000 BTC) have added nearly a million BTC, increasing their collective balance to 5.939 million BTC. The constant climb indicates the entry of medium -sized players who build the exhibition.
The Bitcoin Axel Adler Jr researcher added that the distribution of larger cohorts was notable. Whale portfolios (1,000 to 10,000 BTC) have reduced assets to 324,000 BTC since March 2024, while bosse bosses (≥10,000 BTC) reduced their balance by 391,000 BTC.
In total, around 715,000 BTCs have been released on the market since last year’s peaks.
Above all, this offer was absorbed, largely by smaller and more recent participants, a structural change which underlines why the level of $ 113,000 could mark one of the last significant “discounts” before the renewal of the increase.
Related: traders say that the “bitcoin bull” weekly closing path is a price of $ 120,000 BTC
This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.