What do the support level around $110,000 and resistance level around $114,000 indicate for Bitcoin?
Why is this the correct answer?
This is correct because support and resistance levels are key technical analysis concepts. A support level, like $110,000, is where buying interest tends to step in and halt price declines, while a resistance level, like $114,000, is where selling pressure often limits price rises. Beginners can think of support as a price floor and resistance as a price ceiling.
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