Bitcoin is currently trading within a horizontal supply zone, where price action is showing signs of consolidation. The 21-day and 50-day moving averages are positioned below the current price, acting as dynamic support and indicating underlying bullish momentum.
A breakout above the supply zone, accompanied by strong volume, could signal the continuation of the upward trend. However, if the price fails to breach this level, a potential rejection and subsequent pullback may occur. Traders should closely monitor price behavior at this critical zone for confirmation of the next move.