🚨 #BTC Update: Battle of the Moving Averages! 💥

On Tuesday, #Bitcoin showed some serious resilience, bouncing off the 50-day SMA at $112,619 — a strong signal that bulls are not ready to give up just yet! 🐂

But don’t pop the champagne 🍾 yet — the relief rally is heading toward the 20-day SMA at $116,804, which is trending downwards. That could act as a solid resistance zone. If price stalls there, we might see a tight squeeze between the 20-day and 50-day SMAs. 📉📈

🔼 If bulls manage to push BTC above the 20-day SMA and hold it there, we could be heading for a retest of the $120K zone — and possibly even a run toward the all-time high of $123,218! 🚀🚀

🔽 But if support at the 50-day SMA cracks, things could slide fast — with potential downside targets around $110,530, $105K, and maybe even $100K. 😬

Stay sharp, traders! Volatility could be king in the coming days. 👑

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