$BTC
🚨Bitcoin Price Analysis🚨
Bitcoin’s price has dropped back to the neckline of an inverse head-and-shoulders pattern, a key level that traders are watching closely. As of writing, BTC price trades at $113,068, declining over 2% in the last 24 hours.
If the price bounces strongly from this level, it could show that buyers are trying to turn it into support. A move above the 20-day exponential moving average (EMA) at $115,444 could push the price toward $123K. Sellers will likely put up strong resistance there, but if buyers break through, Bitcoin could climb to $130,000.
On the downside, the support between the trend line and $110K is expected to see strong buying interest. However, if Bitcoin falls below this range, selling pressure could increase, potentially dragging the price down to $105,000 and even as low as $100,000.