Bitcoin Analyst Highlights Key Charts Amid Uncertain Recovery

An analyst highlights key Bitcoin charts as the cryptocurrency shows signs of recovery from its recent crash.

Key Charts to Monitor

Bitcoin recently crashed from above $122,000 to below $110,000, with a partial recovery observed.
A chart indicates similarities between current price action and the November 2021 bull market top.
BTC broke above weekly resistance but fell back, signaling potential exhaustion.
On-chain data shows BTC is below a significant resistance level; UTXO Realized Price Distribution (URPD) suggests high supply cost basis between $117,500-$120,000, posing a risk of panic selling on recovery.
The average cost basis or Realized Price of short-term holders (STHs) serves as a potential support level, historically aiding rebounds.
The Market Value to Realized Value (MVRV) Ratio indicates declining profitability for Bitcoin STHs, with boundary level 1 being retested. A breach could signal further downside, while holding it confirms demand.

Bitcoin is currently priced around $114,100, having decreased by over 8% in the past week.