Since Bitcoin rebounded from $60,000, this is the second time it has pulled back to the 120-day MA. Currently, there are only two scenarios: the 120-day MA holds as support, and it continues to rebound to $90,000; or the 120-day MA fails as support, the rebound ends, and the pullback target is $65,000. Although it sounds like stating the obvious, the 120-day MA is the dividing line—there are only these two possibilities, no third option.