Bitcoin Technical Analysis: Limited Support Level Below $104,800

SchrodingerAirdrop · 2026-01-12T12:39:45+00:00

Recent on-chain analysis highlights the distribution of unspent transaction outputs (UTXOs) for Bitcoin below $104,800, revealing weak support levels. Analysts suggest this could lead to heightened risks in the current market structure, emphasizing the importance of understanding these dynamics for position management.

SchrodingerAirdrop

2026-01-12 12:39:45

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Based on the latest on-chain analysis data, attention is focused on the distribution of UTXOs (Unspent Transaction Outputs) by price range for Bitcoin (BTC). Technical analysis based on Glassnode’s realized price distribution chart has revealed the structure of key support levels in the BTC market.

Support Situation Below $104,800

As pointed out by leading chart analysts, in the price range below $104,800, the number of UTXOs that represent profit-taking points for holders is relatively limited. This suggests that the support layer at this price level may be thinner than expected.

Market Structure Inferred from UTXO Realized Price Distribution

The realized price distribution chart is an important tool that visualizes the acquisition costs of market participants at the time of past transactions. The fact that there are few UTXOs concentrated below $104,800 indicates that large holders’ defense lines at this price range are insufficient. Conversely, in a market trend heading below this level, support at lower prices is unlikely to be expected.

Implications for Market Participants

Such information obtained from on-chain analysis, when combined with technical analysis, can help understand potential risk factors in the Bitcoin market. Accurately grasping the support level structure in the current BTC price environment is an essential element from a position management perspective.

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