#BTC

🟢On the 3rd of the month, bulls pulled out all the stops in an attempt to push BTC up to the key resistance of 110,500 dollars, but bears held firm and did not allow the price to stabilize.

⚠️Current trend:

The seller has pushed the price below the downtrend line, which is a clear bearish signal.

Next, the buyer must firmly hold the moving average support, otherwise BTC will head straight for $105,100, and may even test the psychological barrier of $100,000.

🚀Reversal Opportunity:

If the price can rebound strongly from the moving average position, it will release optimistic sentiment!

Once the rebound is effective, BTC is expected to hit the historical high of $111,980, and even touch the head and shoulders neckline of $113,700, which may completely turn the tide for the bulls.

📊4-hour chart highlights:

Currently, BTC has retraced to the 50-day moving average, and the bulls are working hard to fend off the pullback.

If the price rebounds from the 50-day moving average and breaks through the downward trend line again, it indicates strong buying interest at low levels, greatly increasing the hope of rising above $110,500.

On the contrary, if the price falls below the 50-day moving average, short-term buyers may start to take profits and exit, and BTC could quickly drop towards $105,100, and a break below this level might lead to a deeper correction towards $100,000.