Bitcoin Eyes Stabilization and Rebound After Mild 8% Pullback as 111-Day MA $109,600 and $106,800 Short-Term Holder Price Create Dense Demand Zone

On August 20, COINOTAG News highlighted a social update from CryptoQuant analyst Axel, who characterized the recent Bitcoin pullback as comparatively mild, noting a decline of roughly 8% from the local high.

Axel pinpointed mid-term support at the 111-day moving average (around $109,600) alongside the short-term holder realized price near $106,800, which together delineate a concentrated demand zone for potential accumulation.

The analyst indicated this area may see stabilization attempts and a possible rebound; market participants are advised to monitor these support levels, realized-price dynamics and maintain disciplined risk management rather than assuming immediate trend continuation.