Yo fam, check out this BTC analysis using Fibonacci levels
Scenario 1 (1st Option)
Retracement: Price dipped to the 61.8% Fib level ($62,070.75).
Observation: After hitting this level, price started to recover.
Prediction: If we stay above 61.8%, we could move up to hit resistance at $66,535.25 (38.2%) and $69,049.72 (23.6%).
Outlook: Breaking past $69,049.72 means we’re likely heading to and beyond $73,114.22.
Scenario 2 (2nd Option)
Retracement: Price might drop further to the 78.6% Fib level ($59,571.38).
Observation: Here, price finds support before bouncing back.
Prediction: If support at $59,571.38 holds, we could see a climb back up to test the higher resistance levels.
Outlook: This scenario could mean a deeper correction, but the bounce back potential is strong.
Final Thoughts
Breaking Resistance: Key is breaking $69,049.72. Staying above means a strong bullish trend.
Crucial Support: Watch $62,070.75 (61.8%). Dropping below could mean a dip to $59,571.38 (78.6%) before a recovery.
Retracement: Price dipped to the 61.8% Fib level ($62,070.75).
Observation: After hitting this level, price started to recover.
Prediction: If we stay above 61.8%, we could move up to hit resistance at $66,535.25 (38.2%) and $69,049.72 (23.6%).
Outlook: Breaking past $69,049.72 means we’re likely heading to and beyond $73,114.22.
Scenario 2 (2nd Option)
Retracement: Price might drop further to the 78.6% Fib level ($59,571.38).
Observation: Here, price finds support before bouncing back.
Prediction: If support at $59,571.38 holds, we could see a climb back up to test the higher resistance levels.
Outlook: This scenario could mean a deeper correction, but the bounce back potential is strong.
Final Thoughts
Breaking Resistance: Key is breaking $69,049.72. Staying above means a strong bullish trend.
Crucial Support: Watch $62,070.75 (61.8%). Dropping below could mean a dip to $59,571.38 (78.6%) before a recovery.
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