BlockBeats News, August 21st, on-chain analyst Ali Charts stated that Bitcoin has currently formed a strong support range between $61,849 and $63,111, where over 2 million BTC have changed hands in the past. More importantly, the Unspent Profit/Loss Distribution (URPD) data shows a lack of significant resistance zones above Bitcoin.

It was also pointed out that if BTC is able to break through $75,733, the next major supply area may be located between $83,307 and $84,569, where approximately 1 million BTC were traded previously.