Bitcoin Supply Map Reveals Significant Support And Resistance Areas – Analyst


According to the market analyst Darkfost, the distribution of prices from Bitcoin is revealing critical areas that may indicate the situation in the near term. The chain’s latest data set gives a clear picture of where the market is headed, following on from early April.

61% of BTC Profits Despite Bear Season

In a X post On April 11, Darkfost shares Bitcoin price information based on its distribution model. At current prices, a well-known analyst says that about 61% of Bitcoin in circulation was acquired below the spot price, leaving 39% bought at higher levels. This placement shows that most market participants remain profitable, which is often associated with an excellent market.

Interestingly, some data analysis shows the number of products they invest in is in the $65,000-$70,000 range. Although this region shows both buying and selling rather than accumulation, it still represents an important place where most of the money changed hands. Because this type is below the current price, it is interpreted as a supportive environment and a good place to invest in smart money.

On the other hand, a similar group of events has come out between $ 90,000 and $ 95,000, which Darkfost hopes will act as a countermeasure. This is because market participants who acquired Bitcoin at these price levels may exit their positions as soon as the prices return to their value, creating a barrier to further increases.

However, Darkfost cautions that not all gaming groups are of equal importance. The expert notes that the region of $85,000 has not been followed from a technical point of view, although it shows the amount of activity. This is mainly due to the influence of transfers related to the exchange, especially the large transfer of about 800,000 BTC from Coinbase, which distorts the data and fails to show the real investor’s opinion or concern.

Bitcoin Price Pocket Is Above $75,000

Another important piece of information on the supply map is the availability of a minimum amount of land, often referred to as an “air pocket,” above $75,000. During this period, Bitcoin has seen less trading activity, meaning fewer obstacles to price movement. As a result, if Bitcoin enters this area with enough strength, it can go through it quickly or go through a slow consolidation before continuing to the top. At press time, the major cryptocurrency is trading at $71,535, up 6.45% over the past seven days.

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