$BTC (+0,68%) moved in a narrow trading range between 80,000 and 82,500 US dollars last week. Four important reference levels are close to the current price and can be clearly divided into resistance and support zones.
Above the current price, two levels act as resistance. The 200-day average is around USD 82,500. The average entry price for investors in US spot$BTC (+0,68%)-ETFs is around USD 83,000, reflecting the strong inflows of the past year. Together, these levels form a zone in which investors waiting for the break-even point tend to sell.
Below the current price, two other levels act as support. The "true market mean", i.e. the average purchase price of on-chain holders, is USD 78,200. Strategy, the world's largest on-chain holder of #bitcoinhas an average purchase price of USD 75,500. A break below one of these levels would put these market participants in the red.
For the bulls, a clear weekly close above USD 83,000 would bring ETF investors back into the profit zone and improve momentum. A clear rejection below USD 78,000, on the other hand, could trigger further selling pressure. Until one side breaks out, the trading range will remain.
