[Bitcoin Price Breaks Above 200-Day SMA, Faces Selling Pressure at Previous Highs]
BTC price has risen above the 200-day SMA, breaking out of a multi-quarter consolidation pattern. On-chain analysts point out that this bullish technical signal faces selling pressure at previous highs, and if trading volume fails to expand effectively, the sustainability of the trend is in question. Institutions indicate that short-term tug-of-war between bulls and bears is intensifying, and investors should be cautious of the risk of a pullback from high levels. (Source: CoinDesk)
