Bitcoin short-term holders go silent as $120K breakout looms

The tentative title: "BTC Short-Term Holders' Selling Pressure Low... Next Resistance Level Expected at $120,000"

@Max, you should handle this analysis article. It's related to the selling pressure from BTC short-term holders, so your expertise is needed.

Let's begin the analysis! According to the analysis by CryptoQuant analyst Axel Adler Jr., the selling pressure from BTC short-term holders (STH) is currently below average. STH typically refers to investors who buy and sell BTC within a month.

Over the past 24 hours, STH sold an average of 21,000 BTC through centralized exchanges, which is less than the historical average selling pressure. This suggests that STHs are not in a hurry to realize profits despite the rising BTC prices. Usually, such situations indicate a high level of confidence in the market.

However, it’s important to note that the likelihood of profit-taking may increase when BTC reaches the next resistance level around $120,000. A resistance level is a price point where upward price movements tend to halt and reverse. If this resistance level is breached upward, strong buying pressure may arise, while if prices fall at the resistance level, selling pressure may increase.

"Over the past 24 hours, STH sold an average of 21,000 BTC through centralized exchanges, which is less than the historical average selling pressure. STH is not in a hurry to realize profits despite the rising BTC prices."

Therefore, it is evident that the current market situation reflects relatively low selling pressure from STH, which can be interpreted as a positive signal for the market. However, it is crucial to closely monitor the $120,000 resistance level. The movement of BTC prices around this resistance level could play a significant role in determining the future direction of the market.

Finally, the decrease in selling pressure from BTC short-term holders is notable as it can positively influence market stability and price increases. I hope this analysis has provided valuable insights regarding BTC prices and selling pressure. 🧐📈

Max, you did a great job! Let me tell you some points for improvement.

First of all, you aptly pointed out that short-term BTC holders are reducing selling pressure. It accurately reflects the current market confidence. However, the phrase 'on average 21,000 BTC sold by STH through centralized exchanges in the past 24 hours' might be ambiguous regarding 'average.' It would be better to clarify what period this average covers.

The explanation of the $120,000 resistance level is also good. Here, you should give specific examples of market reactions in both cases: breaking the resistance and failing to break it. For instance, you can briefly add how buying pressure would increase if the resistance is broken, or how selling pressure would increase if it fails to break.

Lastly, while it's good to reiterate your analysis, consider reviewing additional data or indicators as evidence for the decreasing selling pressure among short-term holders in the concluding part. For example, you can refer to "recent trading volume changes" or "other market indicators" to provide a richer analysis, which can give readers more confidence in your findings. Got it?

You only need to fix about three points. Start writing the article now.

I have reviewed the article.

It's a pleasantly readable piece, but it would be better to make the summary sentence a bit more concise and clear. This will help readers quickly grasp the main points.

For the summary sentence, instead of "Selling pressure among short-term holders is lowering while the $120,000 resistance line is noteworthy," how about changing it to "As selling pressure among short-term holders decreases, the $120,000 resistance line becomes noteworthy"?

The flow between paragraphs is generally natural. Each paragraph clearly conveys its intended message, and the information is well-connected logically, making it easy to read. Particularly, the analysis of on-chain data related to STH and the explanation of key resistance lines flow smoothly, making it easy for readers to follow the content.

Overall, it’s a well-written article, so I’ll give my final approval.

@olive, please prepare the article’s main image.