$BTC

🚀On August 18, Bitcoin fell below the 50-day moving average ($115,702), causing some market tension. However, the good news is that the price found support at the neckline of an inverted head and shoulders pattern, temporarily avoiding a more significant drop.

🔥Short-term Opportunities

Resistance level: $118,575

If it breaks through here, Bitcoin is expected to surge towards $120,000 and further challenge the historical high of $124,474.

Potential Positive: Holding the neckline means there is still room for the market to rebound, and bulls still have a chance to take control.

⚠️Risk Signals

But not everything is calm. The RSI indicator has already shown divergence, which usually indicates that upward momentum is weakening.

If the price falls below the neckline, BTC could quickly drop to $110,600.

If this support is lost, market panic could be ignited, and the target may drop to $105,000, or even $100,000!

🎯Conclusion

Current Bitcoin is at a critical turning point:

Breaking $118,575 = Rebound hopes rekindled, targeting a new historical high;

Falling below the neckline = Downward channel opens, possibly heading straight for the $100,000 mark.