Bitcoin’s Crossroads: Near $111K Support Amidst Uncertain Future

At a pivotal juncture, Bitcoin ($BTC) teeters near $111,365. This critical level holds significant significance as the coin attempts to break through a resistance at its 50-day moving average of $115,648. The 200-day SMA stands as a long-term support point, currently holding strong around $101,465. Will Bitcoin surge towards the $118,616 resistance or succumb to bearish pressure, potentially retesting the crucial $100K mark?