$BTC

🟢 On March 3rd, the bulls made every effort to try to push BTC up to the key resistance of $110,500, but the bears firmly held the line and did not allow the price to stabilize.

⚠️ Current trend:

Sellers have pushed the price back below the downward trend line, which is a clear bearish signal.

Next, buyers must defend the moving average support; otherwise, BTC will head straight for $105,100, and it may even test the psychological barrier of $100,000.

🚀 Reversal opportunity:

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

Once the rebound is validated, BTC is expected to challenge the historical high of $111,980, and may even touch the head and shoulders neckline at $113,700, potentially allowing the bulls to make a complete turnaround.

📊 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 at lower levels, greatly increasing the hopes of pushing above $110,500.

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