BTC is retesting the breakout point near the descending trendline (around $98,000-$100,000).
If buyers step in, this retest could act as a launchpad for a potential bounce.
The green zone ($92,000-$96,000) remains a crucial area of demand, offering strong support in case of a deeper retracement.
The 50-day SMA (red line) is moving upwards, currently around $98,000. It acts as a dynamic support level.
BTC is slightly above the 21-day SMA (black line), which suggests short-term support.
Despite the pullback, the overall structure suggests a bullish continuation.
The orange projection shows a potential consolidation followed by a move towards higher targets near $112,000-$116,000.
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DYOR. NFA
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