Analysis: Bitcoin Slightly Above Key Monthly Bull Market Support Level, Market in Recovery Phase

BlockBeats News, September 4th, CryptoQuant analyst Axel Adler Jr posted, stating that any recovery could potentially bring the Bitcoin price back above $113,000, moving towards the fair thirty-day moving average range. The recent bullish scenario includes a technical rebound to the $113,000 to $115,000 range, with on-chain flows also trending towards stability. The current Bitcoin price of $110,700 is slightly above the Short-Term Holder (STH) realized price of $107,600 (a key monthly bull market support level), remaining bullish on a higher timeframe but with the market in a recuperation phase and sensitive to profit-taking.