**Flash News: Bitcoin is Confused, Will It Go Up or Down? 🤔**

- Bitcoin is in a nervous consolidation phase, trapped between the 100-day and 200-day moving averages.

- Since March 2024, Bitcoin has been hovering around $55K-$71K, as if it is confused about where to go.

- Recently, Bitcoin fell below the 200-day moving average at $63.4K, but was immediately held at the 100-day moving average at $61K.

- On the 4-hour chart, there is a rising wedge pattern that could be a bearish signal if it breaks below.

- Selling pressure increases at the 0.786 Fibonacci level, causing the Bitcoin price to fall to the lower limit of the wedge.

- If it breaks through $60K, the next target could be $58K.

- On-chain analysis shows that the Bitcoin price is now between $64K (short-term holders) and $55K (long-term holders).

- If Bitcoin can break $64K, it could be a bullish signal. But if it fails, be prepared to drop again to $55K.

Comment below, do you think Bitcoin will go up or down? 🚀👇