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Analyst: Bitcoin support level is in the dense demand range of $109,600 to $106,800.
BlockBeats news, on August 20, CryptoQuant analyst Axel posted on social media that this pullback is relatively mild, with Bitcoin only falling 8% from its local high. The mid-term support level is at the 111-day MA ($109,600) and the short-term holder realization price ($106,800). This position forms a dense demand zone, and it is expected that there will be attempts to stabilize and a rebound in this zone.