The leading crypto asset, $BTC , experienced a significant rebound on May 12, starting from the level of $100,718. This upward movement illustrates the vigorous struggle of optimistic investors to safeguard the crucial psychological threshold of $100,000, aiming to consolidate it as a firm support floor.
from this relevant mark significantly increases the probability of a new push to conquer its historical high. However, the upward path is not without obstacles; a solid barrier stands in the area between $107,000 and $109,588.
However, if the digital asset manages to break through and leave behind this congestion zone, the BTC/USDT pair could experience a meteoric boost, rapidly catapulting towards the coveted target of $130,000.
But the outlook is not without risks. A potential and abrupt correction below the 20-day exponential moving average ($98,407) could prompt a considerable number of short-term buyers to realize their gains. This selling pressure could, in turn, push the pair down to the 50-day simple moving average, currently situated at $89,952.
In summary, the precious crypto asset finds itself at a decisive juncture, waging a battle between the bullish potential driven by consolidated support and the bearish threat lurking below key technical levels.