The last line of defense for the price of Bitcoin could prevent structural weakness

Regarding the charts, it is a crucial moment for BTC. The asset is trading near a crucial support level, within the range of $108,400 and $117,100 (which has repeatedly halted massive sell-offs). It is noteworthy that long-term holders have sold 300,000 BTC since July, which has generated a constant selling pressure that has limited the momentum.