BTC is currently trading at a critical technical level — sitting right above a key horizontal support zone and the 50-day Moving Average (MA), both converging in the $112,500 – $111,600 range. 📊
This confluence of support is playing a crucial role in holding the price action, and historically, the 50 MA has acted as a reliable bounce zone, as highlighted by the green arrows on the chart. 📈✅
⚠️ However, if BTC fails to hold this level and breaks below the 50 MA, we could see a potential 6–7% correction toward the $105,000 ± $500 area.
📌 Key takeaway: This is a decisive zone — monitor it closely and approach long positions with strategic precision.
#Bitcoin #CryptoAnalysis #BTCUpdate #CryptoTraders #TechnicalAnalysis
