As Bitcoin (BTC) resumes recording new all-time highs (ATH), focus is back on key price levels that could provide investors with an idea about the next possible resistance levels that may see a sell-off in BTC. Fresh on-chain data offers a map of BTC’s most important price levels.
According to a CryptoQuant Quicktake post by contributor Crazzyblockk, the cost basis (Realized Price) of BTC Short-Term Holders (STH) provides a snapshot of important support and resistance zones.
Notably, the STH Realized Price highlights the aggregate price at which recent market participants acquired their BTC. This information can give analysts an idea about potential price levels that can influence investors’ behavior to either take profits or hold their positions.
Crazzyblockk highlighted multiple price levels that could function as potential profit-taking zones. For instance, <1 month Holders Realized Price, +1 Standard Deviation, hovers at $143,170.
To explain, $143,170 is the price level where recent buyers (holding BTC for under a month) would, on average, be up by about one standard deviation on their cost – a zone that can trigger selling and serve as a near-term resistance.
Similarly, the <1 month Holders Realized Price, 0.5 Standard Deviation, is currently around $133,239. Meanwhile, the STH-Realized Price, +1 Standard Deviation, currently sits at $131,310.
The analyst added that the current BTC spot price is trading slightly above the “pivotal mid-point” level, which could determine the market’s next short-term move.
In addition, the CryptoQuant contributor noted multiple key support zones that could function as potential re-accumulation zones for BTC investors. These levels include $117,763, $111,963, and $103,239.
