Bitcoin Price Prediction Today
Bitcoin rose above the 20-day exponential moving average ($105,851) on Monday, but the bulls could not sustain the higher levels. The price turned down and fell to the 50-day SMA on Tuesday.
The 20-day EMA has flattened out, and the relative strength index (RSI) is near the midpoint, signaling a possible range-bound action in the near term.
If the price skids below the 50-day SMA, the BTC/USDT pair could plunge to $100,000. Buyers are expected to defend the $100,000 level with all their might because a break below it may sink the pair to $93,000.
On the upside, a break above the 20-day EMA could push the pair to the downtrend line.
If this level is cleared, the pair could rise to the neckline of the inverted head-and-shoulders pattern near $112,800.
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