Cryptocurrency analyst Min Tae-Yoon has published an attractive analysis of Bitcoin (BTC) prices. According to Tae-Yoon, BTC is rejoining the classic “triple power” market structure, and breaks above $120,000 could trigger rapid upward momentum as this structure approaches its distribution phase.
Bitcoin prices fell to $112,000 last weekend. This is a decline that some analysts believe has caused a “position reset” and paved the way for the rally. Teion argues that this modification could actually pave the way for a new upward movement.
The “Power of 3” model explains the three-stage market structure. “Accumulation – Operation – Distribution.” This structure is used in particular to analyse the liquidity movement of institutional investors, and often prefers to understand the delayed responses of individual investors.
According to the analysis, Bitcoin established a solids base in the range of $115,300-$119,500 during the accumulation stage. The sudden drop that followed reduced the price to $112,000. This move is generally interpreted as the liquidation of individual investors who purchased at peak times and the creation of new accumulation bases in the market.
One of the most striking points in Tae-Yoon’s analysis is that the $120,000 level acts as a “strong price magnet.” If prices exceed $115,300 and exceed $116,800, Bitcoin could break through $120,000 resistance and quickly gather at its $126,000 tech target.
It is estimated that leverage positions worth $922 million have been settled during the recent revision. This position reset on the scale usually reduces market overheating and paves the way for new rally.
*This is not investment advice.
