Bitcoin (BTC) Price: Technical Analysis Shows Critical Resistance at $115,500 Level
The post Bitcoin (BTC) Price: Technical Analysis Shows Critical Resistance at $115,500 Level appeared on BitcoinEthereumNews.com.
TLDR Bitcoin short-term holders have reduced profit-taking as price recovers from $112,000 Market in “relatively balanced position” with 70% of short-term holders still in profit Bitcoin trading around $114,766 after falling from all-time high of $123,100 Analysts watching key resistance level at $115,500 for potential breakout Tom Lee predicts Bitcoin could reach $250,000 in 2025 despite recent pullback Bitcoin has stabilized around the $115,000 mark after a recent pullback from its all-time high of $123,100 reached on July 14. According to data from Glassnode, short-term holders have eased their profit-taking activities as the price slowly climbs above its local low of $112,000. The analytics platform reported on Wednesday that Bitcoin Short-Term Holders (STH) – defined as those holding Bitcoin for less than 155 days – have “cooled off” their selling. The STH spent volume, which measures the proportion of recent buyers in profit selling their Bitcoin, has dropped to 45%, below the neutral level. This behavior suggests the market “is in a relatively balanced position, with 70% of STH supply still held in profit, and an almost even split of profit and loss taking in coins which are on the move,” according to Glassnode. The company further noted that this level “aligns with the midline of prior bull phases, and is again not an atypical condition.” Market participants closely watch the behavior of Bitcoin STHs as they historically tend to sell more during periods of market volatility. The recent data comes after Bitcoin dipped to $112,044 over the weekend, just weeks after reaching its new all-time high. At the time of writing, Bitcoin was trading at approximately $114,766. Technical Analysis Points to Key Resistance Bitcoin currently faces a critical resistance level around $114,400-$115,500. According to TradingView data, a descending trendline and the 100-hour simple moving average are acting as major…
Filed under: News - @ August 7, 2025 9:32 am