BTC Reenters Box Range…Defense Of Support Line Is Key

The cryptocurrency data analysis firm SwissBlock reported on X that "Bitcoin (BTC) temporarily rose to 107,000 dollars and absorbed liquidity in the 104,000~106,000 dollar range, but failed to support that range and re-entered the box range."

SwissBlock analyzed that "This week's market flow after BTC closed six weeks of consecutive gains could be a crucial turning point," and "Defending the support line in the current box range will be the key factor in determining future direction."

Investors are paying attention to whether BTC can maintain the major support line this week, and there are observations on whether a bull market will continue or a correction will occur depending on future movements.