最新报道：According to Bijie.com, on-chain data analyst Murphy published a market analysis titled "The Game of BTC's Key Support and Resistance Levels" on September 23rd. BTC's current rebound from $108,000 ultimately failed to break through $117,000. Whether it can break through $117,000 will determine whether this rebound is a strong or weak one. This level corresponds to the highest column in the entire stock structure and represents BTC's strongest resistance level, attracting a large number of short-term trapped positions. Whether it can break through and stabilize is the best indicator of short-term market confidence. The behavior of various on-chain whale groups over the past 15 days shows that they are either neutral or reducing their holdings, clearly conveying a cautious wait-and-see attitude. BTC is currently approaching the STH-RP (Short-Term Holder Realized Price), considered the "phased bull-bear dividing line," currently at $111,400. This support level was first tested during the pullback at the beginning of the month and will be tested again next. Based on past experience, the second support level will be weaker than the first and will gradually weaken. If the price fails to break through $113,500, it may continue to fluctuate around the STH-RP level or enter a period of volatile decline. This analysis is for educational purposes only and is not intended as investment advice.