$BTC

₿BTC has already fallen back to the 20-day moving average (117,342 USD), which is the current market's "defensive red line."

🐂 Bullish Scenario

If BTC stabilizes and rebounds at the 20-day moving average, it means that every small decline will attract buying support. Next, the bullish target is to break through 124,500 USD. Once stabilized, the upward trend will be ignited, and Bitcoin is expected to soar to 135,000 USD!

🐻 Bearish Scenario

However, if the price closes below the 20-day moving average, it indicates that bulls begin to take profits. BTC may further test the 50-day moving average (115,355 USD) or even challenge the "iron bottom" at 110,600 USD. If this level is breached, the short-term top will be basically confirmed, and the risk of selling will significantly increase.

🎯 Key Observation Points

Strong Support: 117,342 → 115,355 → 110,600

Upper Resistance: 124,500