Julio Moreno: Bitcoin needs to break through $81700 to confirm a new bull market

CryptoQuant research director Julio Moreno stated that Bitcoin needs to break through its 365 day moving average of $81700 to confirm a new bull market. Currently, Bitcoin is fluctuating between $76000 and $82000, with $77100 to $80200 being the main supply resistance zone. Long term holders have sold 539000 BTC in this area. The subsequent resistance is at $83600 and $88700, with downward support at $70000 and the range of $62000 to $65000. Long term holders have bought 476000 BTC in the latter range.