Glassnode
Bitcoin is retesting the True Market Mean, with the short-term holder cost basis at $75.8K identified as a level the price could revisit while the continuation setup remains intact.
Why it matters
Retests are described as normal during an uptrend, rather than an automatic sign that momentum has failed. The analysis points to a prior retest in mid-September that came days before that move reached its high.
Market impact
The $75.8K cost basis is the downside level highlighted in this setup. The comparison with September offers historical context, but does not establish that the same sequence will repeat.
Frequently asked questions
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What level is identified as a possible Bitcoin pullback target?
The analysis identifies the short-term holder cost basis at $75.8K as a possible pullback level.
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Why is the $75.8K level still considered compatible with continuation?
The analysis says Bitcoin could pull back to the short-term holder cost basis at $75.8K and still have a good setup for continuation.
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How does a retest fit into the uptrend described?
The analysis characterizes retests as normal during an uptrend, rather than as an automatic sign that the trend has failed.
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What happened after the previous retest mentioned in the analysis?
The previous retest occurred in mid-September, days before the high of that move.
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Does the September comparison guarantee the same pattern will repeat?
No. The September example provides historical context, but the analysis does not establish that the sequence will repeat.
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