Analysis: Currently, 351000 BTC have completed turnover in the range of 112000 to 114000 US dollars, with 117000 to 118000 US dollars becoming the current key resistance level

Crypto analyst Murphy pointed out that BTC's support at the key position of $112000 is significant. From the extreme deviation pricing range of MVRV, the trend oscillation range since April has always been running between the orange line and the yellow line, and the current lower track price of the channel is $112000. As long as it does not fall below this line, the trend will continue, and the rebound high point is expected to reach the upper track price of $124000. In addition, URPD data shows that as of today, 351000 BTC have completed turnover in the range of $112000- $114000, an increase of 80000 from August 3rd. The current resistance level is between $117000 and $118000, and BTC may still retreat to $112000 before breaking through. The most ideal trend is for the price to consolidate within the range of $112000- $117000, absorbing weak chips and accumulating strength for future breakthroughs.