$BTC

Bitcoin surpassed the 20-day EMA ($106,202) on Monday, indicating that the bulls are vigorously defending the 50-day SMA ($103,887).

This movement suggests a short-term upward momentum, with buyers looking to consolidate their position in the market. Price action at these key levels will be decisive for the next phase.

The bulls will aim to push the price towards $110,530, and from there, to the neckline of an inverted head and shoulders pattern. A decisive close above this line would confirm the bullish setup, projecting a pattern target of $146,892.