[Analysis: BTC Encounters Resistance at the Short-Term Holder's Cost Line (STH-RP), Pullback Observation Range Between $72,300 and $75,700] BlockBeats reported on November 4th that market analyst Murphy noted that looking back at January to September 2023, BTC prices encountered resistance one standard deviation above the STH-RP and subsequently experienced some degree of pullback. Of the three pullbacks, the first perfectly retraced to the STH-RP, the second slightly broke below it, and the third fell between the STH-RP and one standard deviation below it. Murphy stated that the current STH-RP is approximately $75,700, and one standard deviation below it is approximately $68,900. Based solely on the above pattern, a pullback to $75,700, $72,300, or somewhere in between are all possible scenarios. Murphy emphasized that he does not seek to predict market movements, but only to develop trading plans. Based on our previous assessment of the "Seller Exhaustion Index," the pullback to approximately $77,000 for BTC formed the second lowest point in this cycle, only higher than the signal point in August of this year. This analysis is for reference only and does not constitute direct investment advice. [Original Link]