Bitcoin Face Key Short-Term Resistance for $106,200 and Support for $97,500 as Dem Sell Pressure Don Rise
Bitcoin (BTC) dey face strong selling pressure, especially from pipo wey don hold am for long time. Dis don make am test key support areas around $97,500 and possible resistance for $106,200. Recent on-chain analysis from CryptoQuant show say average price wey short-term BTC holders buy am dey between $87,300 and $106,200, and dis levels dey important for market behavior. When BTC reach dis break-even prices, short-term holders fit sell more, and dis go cause more resistance near $106,200. But for the other side, over-the-counter buyers dey eye $97,500 area as strong possible support and place to buy plenty. Traders suppose watch dis price levels well-well, as e fit cause more volatility around dem. Even though technical analysis talk say June usually dey bring good returns for Bitcoin, market still dey careful optimistic, especially if general economy dey good. Dem advise make pipo manage risk well as plenty selling from holders fit cause more up and down movement.
Neutral
BTC now dey shake well-well as long-term and short-term holders dem actions dey show wetin be di main price areas. Di resistance for $106,200 and di support for $97,500, both of dem important for technical and psychological reasons. As long-term holders dey sell more, e fit bring price down, but as e get strong support levels and di way June usually dey give good returns, e still get some hope. Market people go fit see price dey go up and down and how dem feel go dey change near these levels, but no clear sign say e go climb up or fall down well-well for now. Market just dey wait to see, and wetin traders do around these prices go show wetin go happen next.