Despite the bearish interference, the Bitcoin daily chart remains bullish. The price faced resistance before entering the final resistance zone below the historical highs, indicating that a final pullback will occur before new highs are set. The balance volume continues to decline sharply, suggesting a decrease in buying activity and an increase in selling activity. However, the moving average levels still provide some hope for Bitcoin's price, as it may be heading towards a golden cross.
The 50/200 day moving average is about to form a bullish crossover, which typically triggers significant upward movement. Therefore, the upcoming monthly closing price could have a significant impact on the impending uptrend, as successfully completing the golden cross could push BTC's price above $110,000. If unsuccessful, this leading cryptocurrency may experience a strong pullback, extending the pullback phase.
