$BTC

The bullish strength of Bitcoin is weakening, and the key support level is about to be tested!

Brothers, Bitcoin has been struggling at the psychological barrier of 100,000 USD recently, with bulls failing to hold their ground after several attempts to rise. This wave of market action will either take off directly or undergo a pullback; let’s take a look at the key positions together!

Short-term key support: 20-day moving average (95,568 USD)

Holding steady: If Bitcoin strongly rebounds near the 20-day moving average, it indicates that the bulls are still strong, and the sentiment for buying on dips is high.

Target: Challenge the historical high again. Once broken, it might directly surge to 112,456 USD, or even aim for 126,000 USD.

Unable to hold: If it falls below the 20-day moving average, the likelihood of bulls taking profits increases, and the price may further drop towards 90,000 USD, or even the 50-day moving average (85,000 USD).

Bullish opportunity: Key breakout point

The psychological barrier of 100,000 USD is a watershed:

Holding above 100,000: Bulls dominate, and market sentiment warms up. After breaking 104,077 USD, Bitcoin is likely to usher in a new round of upward momentum.

Failing to hold: Bears take the opportunity to suppress, and the price may gradually test the support area.

Bitcoin's current market action is tugging at this key position of 100,000 USD. The short-term direction is unclear; keep a close eye on support and resistance. Don't act impulsively until the market confirms; opportunities are always there, but once the money is gone, it's gone!