Bulls Fight to Defend Key Support, Will BTC Rise?

3 days ago

Amid rising geopolitical tensions, Bitcoin has suffered a sharp decline, dropping to the critical 200-day EMA level.

At the time of writing, bulls are barely holding on, struggling to defend against the mounting pressure from bears, who are currently in control.

If Bitcoin breaches the 200-day EMA, the trend could shift decisively in favor of the bears, with potential support levels at $60,000 and $58,000 coming into focus.

However, if tensions ease and market sentiment improves, bulls could stage a recovery from the 200-day EMA. In such a scenario, upside targets would include $64,000 and $67,000, providing a potential pathway for Bitcoin to regain its footing.