#Bitcoin Surged 7.2% Last Week, Faces Monday Correction but Holds Above $106K
Bitcoin rallied 7.2% last week, closing above $108,000. However, it faced a sharp correction on Monday, dropping to nearly $105,100.
The decline led Bitcoin ($BTC ) to retest a key trendline from its previous downtrend. At the time of writing, Bitcoin has bounced strongly from that trendline, showing a solid recovery and is now trading above $106,000, signaling renewed bullish momentum.
If Bitcoin continues to face selling pressure and closes below its 50-day Exponential Moving Average (EMA) at $104,245, it could trigger an extended decline toward the key psychological support level of $100,000.
