Bullish Scenario: If #BTC can absorb the selling pressure and close above $66K, it could continue its upward momentum toward $69K-$70K. Breaking this resistance would likely be fueled by broader market optimism or favorable macro events.
Bearish Scenario: If the selling pressure overwhelms the buyers and BTC closes below $60K, we could see a deeper correction, potentially testing the $50K-$55K range.
OPINION:
As long as Bitcoin holds above the 120-day EMA on the daily chart, there’s optimism for a potential move toward the ATH. However, if Bitcoin were to break below this crucial support line, it could signal a shift toward a bearish trend, bringing with it the risk of further downside.
