Analysis: BTC finds strong support around $102,886-$99,894 range

Data from Glassnode's In/Out of the Money Around Price (IOMAP) indicator shows that Bitcoin (BTC) has found strong support around the $102,886-$99,894 zone, according to an analysis article released on BeInCrypto. Investors have amassed more than 398,590 BTC within this range. IOMAP is an indicator that shows the distribution of investor volume that is either in the black or in the red around a certain price point. As per TradingView data, BTC briefly broke above the $107,000 level earlier today, likely to reverse its downtrend. The flagship token is expected to once again cross the $105,000 level, moving closer to its all-time high of $109,588. However, if its long-term holders start to take profits, BTC could sink below the $102,734 support and slip back to the $100,000 level, according to the post.