Bitcoin surged to a new all-time high of $112,000 before a sell-off following global market caution caused by geopolitical and economic uncertainty.
Bitcoin has retraced back to the daily EMA 8, with analysts suggesting that holding this moving average could signal continued bullish momentum.
Despite the recent rally, Bitcoin needs to secure a clean break above $115,000 for the uptrend to be confirmed as sustainable, with focus on how it reacts at the technical crossroads.
BTC is currently retesting key technical levels around $107,800, with potential for further upside if this support holds, but a break below $106K could lead to a dip towards $103,600.