Bitcoin kicked off the week with strong momentum, pushing toward the key resistance zone between $109,588 and $111,980. The rally likely got a boost from optimism around the US-China trade talks happening in London. According to trader Cas Abbe, Bitcoin could be gearing up for a sharp breakout above $109K to $110K.

He pointed out that if BTC jumps 10% from current levels, it could trigger $15.11 billion in short liquidations. On the flip side, if it drops 10%, around $9.58 billion in long positions could be wiped out. While the overall market bias remains bullish for the long term, some analysts are bracing for a short-term correction. Swissblock is eyeing a possible dip to $104,000, and analyst Mickybull Crypto is watching $101,500 as a potential floor.

Bitcoin broke above the 20-day EMA at $105,296 on June 7, and bulls pushed through resistance at $106,794 two days later. This recent move has shaped up into an inverted head-and-shoulders setup, and if BTC can break and hold above the neckline at around $112,700, the breakout could ignite a strong rally toward the pattern target near $146,892. But if bulls lose momentum and price drops back below the 20-day EMA, it’ll show bears are still lurking at higher levels.

That could drag BTC/USDT down to the key $100,000 zone, where buyers are expected to make a strong stand. If that level breaks, though, the correction could deepen quickly, with $93,000 coming into play as the next major support. Ether has been stuck in a tight range between $2,323 and $2,738, showing a tug-of-war between bulls and bears. As long as ETH holds above the 20-day EMA at $2,515, buyers have the edge and could attempt to push toward $2,738. If they break through that ceiling, ETH/USDT might catch momentum and rip higher toward $3,000 and potentially $3,153. On the flip side, if the price gets rejected hard and slips below the 50-day SMA at $2,284, that’ll signal the bears are taking control. A breakdown below that level could trigger a fast drop toward $2,111.

Lastly please check out the advancement’s happening in the cryptocurrency world

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