Bitcoin: Breaking the Uptrend, Risk of Deep Decline

BTC opened the week below 116,300 USD, breaking the uptrend line from April and the 50-day EMA (114,903 USD). The price is currently fluctuating around 113,400 USD.

Bearish Scenario: If selling pressure continues, BTC could retreat to support at 111,980 USD. The daily RSI is below 50 and the MACD crossover down (Tuesday) confirms the negative trend.

Bullish Scenario: A recovery above 116,000 USD could trigger an upward movement towards 120,000 USD.