Analysis: Bitcoin 'Filling the Gap' Probability is Rising, Pullback Bottom or Forming in 'Double Anchor Structure' Middle
BlockBeats News, August 1st, on-chain data analyst Murphy stated in a post that the $117,000 Bitcoin support level has been breached, and the probability of a "gap fill" is increasing. According to Bitcoin on-chain data, the $117,000 price level is a significantly higher volume bar compared to other price ranges in the URPD chip structure, with a total of 720,000 BTC stacked at this single price, indicating an intense battle between bulls and bears at the $117,000 price level, resulting in significant turnover. The current price of BTC has already fallen below this key support level.
Whenever a single price bar accumulates more chips, the game will reach a critical point, and the market will face a moment of short-term directional choice. The chip range from $116,000 to $119,000 has high density but lacks width, making it vulnerable to a short-term breakthrough. Currently, the market seems to be choosing a downward direction, entering the middle area of the chip ranges from $116,000 to $119,000 and $102,000 to $109,000, forming a "dual-anchor structure." Based on past experience, as long as two chip ranges hold firmly, the bottom of the retracement is likely to form in the middle of the "dual-anchor structure," with the intermediate position around $112,000 to $113,000, which is also a fractured range in the chip structure (turnover gap).
Therefore, if the BTC price does not quickly return to and hold above $117,000 in the short term, the probability of a "gap fill" will increase. Conversely, if the price can swiftly return without breaking below the $117,000 support level, a rapid upward breakthrough after oscillation is a high-probability event. This information is shared for learning and communication purposes only and should not be considered as investment advice.
You may also like

The most important thing in Web3 primary market investment

The strategic focus of cryptocurrency in reconstructing the international monetary system and the Chinese solution

Musk Poached Aave App's Web3 Prodigy

The Petro Order is Cracking. What Comes Next for the Middle East?

ETF Fund Inflows Emerging, What's Still Missing for BTC to Fully Recover?

Forbes Special Report: The Embrace of AI Agents in the Cryptocurrency Industry

Bitpanda, Vision Web3 Foundation, and Optimism Partner to Onboard European Financial Institutions to the Global Blockchain Economy

What will the early Hyperliquid prediction market look like?

Overseas VC's Two-Week Trip to China AI Leaves Them in Awe of Shenzhen Hardware

Was CZ Also Rug Pulled? BNB Treasury CEA Industries Control Battle

A transaction in 7 seconds, earning tens of millions of dollars, he's seen as the "cancer of meme coins."

Bittensor Ecosystem Token SN Surges 5x in March, What's Behind Richard Heart's One-Liner?

The economy is entering a new cycle, how can the average person prepare?

Access Binance Alpha Box: Sigma.Money to Launch BNB Chain Ecosystem Yield Farming Gateway

Kimi, Chip, and Bean come together for a Crypto Hackathon: What did AI developers build on Monad?

How to Trade Crypto on Mobile Browser & Win LALIGA Tickets (2026 Guide)
Discover how AI automation, natural language trading, and mobile browser trading platforms are shaping automated trading in 2026. Join the WEEX live trading event for early access and rewards like LALIGA VIP tickets.

Connecting encryption, TradFi, and payments, is Gate completing the final puzzle of the "super APP"?

