$BTC

🧠BTC broke through the 20-day moving average (105781 USD) on June 16, but the bulls were quickly pushed down... And now, on June 17, it has been pushed back to the position of the 50-day moving average.

🔍 How to interpret the current signals?

The 20-day moving average is stabilizing, and the RSI has also returned to the midpoint, what does this indicate? It indicates that the market is in a wait-and-see mode in the short term, likely leading to a range-bound oscillation.

Now the key is whether the lower 50-day moving average can hold.

✅ Bullish scenario:

If the bulls can hold the 50-day moving average and break through the 20-day moving average again, then the target will be the downward trend line!

Once the trend line is broken, BTC may head straight for 112800 USD, which is the neckline position of the inverted head and shoulders pattern, and a breakout could lead to a surge!

❌ Bearish scenario:

If the 50-day moving average cannot hold, guys, the alarm is sounding!

If it breaks down, the first target to look for is the support at the round number of 100000 USD. If that can't hold either, it may drop towards 93000 USD, so risks need to be managed properly.