According to Gate News bot, Bitcoin has retreated to its 50-day simple moving average (SMA), a level that has provided support twice this month, causing the price to rebound. Therefore, the recent retest of the SMA provides an opportunity for the bulls to establish the 50-day SMA support level, pushing the price up further. Conversely, a break below the 50-day SMA support level could trigger stronger selling pressure, which could eventually cause the price to fall below $100,000. As of press time, the bearish case seems strong as bulls show weakness, as evidenced by the recent shallow rally in the 50-day SMA. When the SMA was first tested on June 5, the price rebounded from about $100,500 to over $10,000. However, on the second test of the SMA on June 17, the price only rebounded from $103,000 to $109,000. The Doji candle of the past week also hints at bullish weakness above $100,000. A strong volume break above $110,000 is needed to restore the current bullish outlook.