glassnode: Bitcoin's support level is at $111,000, with resistance at $117,000

BlockBeats News, October 28, glassnode published a post stating that, according to Bitcoin's cost basis distribution, there is support around $111,000, while there is a significant sell wall supply around $117,000.

This price range defines the battleground between recent buyers and profit-taking sellers. Whatever direction is broken, it may set the tone for the next major market trend.