Get started

BTC-D

BTC Faces Significant Selling Pressure from Long-Term HoldersBitcoin ( CRYPTOCAP:BTC ) has faced intensified selling pressure from long-term holders (LTHs), who have offloaded approximately 1 million BTC since mid-September, contributing to its current 13% dip from its all-time high of $108,000. This marks the largest discount since the U.S. presidential election. While short-term holders (STHs) have stepped in to absorb some of this supply, demand imbalance continues to weigh heavily on Bitcoin’s price. 1. Long-Term Holders’ Selling Behavior LTHs, defined as investors holding BTC for over 155 days, have been distributing their holdings as prices show strength. Over the past week, LTHs sold 70,000 BTC in a single day, marking the fourth-largest one-day sell-off this year, according to Glassnode data. Their holdings have dropped from 14.2 million BTC in September to 13.2 million BTC, signaling a strategic move to realize profits during this period of heightened market volatility. 2. Short-Term Holders Absorbing Supply STHs have accumulated 1.3 million BTC during the same period, partially offsetting LTHs' selling. However, this accumulation hasn’t been enough to sustain upward momentum, resulting in continued price weakness. 3. Market Liquidity and Exchange Activity The circulating supply of Bitcoin stands at 19.8 million tokens, with 2.8 million BTC held on exchanges. Notably, 200,000 BTC have exited exchanges in recent months, indicating a trend of investors moving assets to cold storage. This dwindling exchange balance could limit immediate liquidity, further impacting market dynamics. Technical Outlook Bitcoin is trading in a bearish zone, currently down 0.49% with a Relative Strength Index (RSI) of 42. The recent market sell-off liquidated approximately $1.4 billion, exacerbating downward pressure. Key Levels to Watch Support Level: If selling persists, CRYPTOCAP:BTC could dip to $85,000, a key support level aligning with the 23.6% Fibonacci retracement. Resistance Level: For a bullish reversal, CRYPTOCAP:BTC must break through $101,000, a pivotal psychological and technical barrier that aligns with the 38.2% Fibonacci retracement. Outlook and Implications The ongoing selling by LTHs reflects a strategic shift, possibly influenced by macroeconomic uncertainties and profit-taking at current levels. Meanwhile, STHs’ buying activity suggests continued confidence in Bitcoin’s long-term potential. However, the imbalance between supply and demand could lead to further short-term price volatility. Investors should closely monitor key support and resistance levels and market activity from these cohorts to anticipate the next significant price movement. Conclusion Bitcoin’s price trajectory remains uncertain amid significant selling pressure from LTHs. While oversold technical indicators hint at a potential rebound, the lack of sufficient demand from STHs raises concerns about sustained recovery. The next few days will be critical for Bitcoin as it navigates these pivotal price levels. Will CRYPTOCAP:BTC bounce back like it has in past corrections, or is a deeper dip on the horizon? Only time will tell. Stay tuned for further updates!
BINANCE:BTCUSDLong
by DEXWireNews
HolderStat | BTC bulls leaving the ship?Over the last 3 days, $2.5 billion has been liquidated in the futures market, 83% of which is longs. The BTC price dropped to $96,613 (-4.6% for the week), the fear index dropped 7 points, and outflows from spot ETFs totaled an impressive $680 million. ❌ Is this a signal? No, it's a pattern. Corrections like this “drop off the tourists,” opening up new opportunities for those who know how to act strategically. Even El Salvador did not flinch under IMF pressure and bought 11 BTC. Their wallet is usually replenished by 1 BTC per day - something is clearly brewing. What have you done? 💡 What to do? 1️⃣ Analyze key support levels. 2️⃣ Watch liquidity: BTC dominance remains high (59%), which confirms interest in the asset. 3️⃣ Evaluate trading volumes on pullbacks. ⚡️ Correction is not a time for panic, but a moment for cold-blooded analysis and precise actions. _____________________ 📊 Want more useful analytics? Like and subscribe to stay up to date with the most relevant trading ideas! Always DYOR! 🔬
Long
by HolderStat
1
Bitcoin - Broader Structure and The $32K Breakdown TargetLast time, I posted an idea about Bitcoin's shorter term structure. I was scaling into a short position, and ultimately decided to close when I noticed strong support continuing to hold. This ended up being a good move, since price pushed higher towards $108k. There's a lot of resistance here in the low $100K range. While a notable milestone, it's a hefty price. More and more, Bitcoin is being seen as a tool for exploitation and wealth concentration for the wealthy, rather than something for the masses. Although good for price, this is not in keeping with the original intention behind the technology, or so we are led to believe. I tend to generally post short ideas now because I do not support buying Bitcoin, which serves only to enrichen a select few, and no longer benefits the little guy. Sure, it could benefit ME in the future, but that feeds further into greed and selfishness, which are the human flaws at the root of many market inequities, fallacies, and injustices. For more on why I changed my perspective on crypto, there are tons of ideas I've posted over the years to pull from. It essentially boils down to this: When I was young and naive, I believed crypto could be an escape from the established financial system. In many ways it is, if you like gambling on memes and adrenaline coursing through your veins. But on a broader level, it's been co-opted by the same forces that control our traditional markets, institutions, and to an extent, our wellbeing. More and more, crypto seems to fit into a neo-feudalist dystopia, rather than a free-flowing renaissance utopia. Earlier this year, I closed my original short positions when it seemed likely for Bitcoin to surpass its previous all time high. Now that price has hit a major milestone, altcoins have gone up 500-1000%, and gloating is abounds, it's time for me to re-enter my short. Now, I'm not looking to profit massively from this. It's a small position. But, I am of the belief that there is a non-negligible probability that Bitcoin will enter a longer term bearish trend. Whether it's now or at $160k, who knows? If this trendline can break decisively (it's held very well so far, even when price drops below), the next stop seems to be around $89k. From there, a bounce would be bullish. My green arrow shows the possibility of rally resumption if that level holds as strong support. On the bearish side, the previous all-time high is the next major level, followed by $32k if the entire support structure falls apart. Markets are starting to wake up and understand that inflation isn't going away quickly, and monetary policy won't be as easy as it was. A lot of fluff needs to get weeded out. Unfortunately, crypto doesn't have much SUBSTANCE to it (meaning goods, resources, and services) attached to it. As always this is meant for speculation and entertainment only! Thanks for reading. -Victor Cobra
COINBASE:BTCUSDShort
by VictorCobra
1
BTC/USDT: Rising Channel Pattern | Critical Support TestBINANCE:BTC/USDT - 4H TIMEFRAME 🎯 CURRENT ANALYSIS: ━━━━━━━━━━━━━━━━ ✦ CURRENT PRICE: $95,921.70 (-1.21%) ✦ CHANNEL SUPPORT: ~$92,500 ✦ CHANNEL RESISTANCE: ~$114,000 ✦ KEY TIMEFRAME: 4H TECHNICAL STRUCTURE: ━━━━━━━━━━━━━━━━ 1. CHANNEL FORMATION: • Price trading within ascending channel • Strong support at lower channel boundary • Upper boundary showing resistance 2. PRICE ACTION FORECAST: • Potential volatility increase ahead • Projected movement (white line): - Initial bounce to $105,000 - Further rise to $114,000 - Possible reversal back to support 3. CRITICAL LEVELS: • Major Support: $92,500-$95,000 • Key Resistance: $107,000-$108,000 • Channel Top: ~$116,000 TRADING IMPLICATIONS: ━━━━━━━━━━━━━━━━ SHORT-TERM OUTLOOK: • Channel boundaries providing clear trading ranges • Current price testing support zone • Volatility expected to increase RISK FACTORS: • Break below channel support (~$92,000) • Increased selling pressure at resistance • Market sentiment shifts KEY OBSERVATIONS: ━━━━━━━━━━━━━━━━ • Price currently testing critical support • Channel structure remains intact • Projected movement suggests volatility ahead • Trading volume will be crucial for confirmation RISK DISCLOSURE: ━━━━━━━━━━━━━━━━ This technical analysis is for educational purposes only. Always manage risk appropriately and never trade more than you can afford to lose. #Bitcoin #BTC #TechnicalAnalysis #CryptoTrading #TradingView Tags: @TradingView
Long
by Supachai-Taechapisit
PEOPLE Reversal Setup at Channel Bottom | 100% Potential Return BINANCE:PEOPLE/TETHERUSHTTPS - 4H TIMEFRAME 🎯 SETUP STRUCTURE: ━━━━━━━━━━━━━━━━ ✦ ENTRY: $0.03578 ✦ TARGET: $0.07380 ✦ STOP LOSS: -3% Below Entry ✦ RISK:REWARD: 35:1 ✦ TIMEFRAME: 4H ✦ POSITION TYPE: SWING TRADE TECHNICAL CONFLUENCE: ━━━━━━━━━━━━━━━━ 1. PRICE ACTION: • Descending Channel Bottom Test • Multiple Timeframe Support Zone • Previous Strong Demand Area 2. MARKET STRUCTURE: • 6-Month Downtrend Exhaustion • Potential Double Bottom Formation • Clear Volume Profile Support 3. KEY CATALYSTS: • Oversold RSI Divergence • High-Volume Accumulation Zone • Strong Historical Support Level TRADE MANAGEMENT: ━━━━━━━━━━━━━━━━ ENTRY STRATEGY: • Scale in between $0.03578-$0.03600 • Initial position: 40% of total size • Add on first confirmation: +30% • Final add on trend confirmation: +30% TAKE-PROFIT STRATEGY: TP1: $0.05000 (25% of position) TP2: $0.06200 (50% of position) TP3: $0.07380 (25% of position) INVALIDATION: • Break below support with volume • Loss of 4H market structure • Failure to hold entry zone after 4H RISK DISCLOSURE: ━━━━━━━━━━━━━━━━ Trading involves substantial risk of loss. This analysis is for educational purposes only and should not be considered as financial advice. Always conduct your own research and trade responsibly. #USDT #TechnicalAnalysis #Trading #CryptoTrading #SwingTrading Tags: @TradingView
Long
by Supachai-Taechapisit
BTC/USDT: Breaking Free from a Descending Broadening WedgePattern Breakdown: Descending Broadening Wedge: Characterized by lower highs (LH) and lower lows (LL), this pattern reflects increasing volatility and a potential exhaustion of selling pressure. Historically, these patterns often resolve to the upside as buyers reclaim control. -------------------------------------- Current Structure: BTC has bounced from the lower boundary of the wedge, showing signs of a bullish reversal. The price action aligns well with the theoretical breakout strategy depicted in the diagram, highlighting a high-probability long setup. -------------------------------------- Key Levels to Watch: Immediate Resistance: The upper boundary of the wedge around $98,000 serves as the first hurdle. Breakout Target: A successful breakout above $98,000 could push BTC toward the highlighted supply zone at $101,200-$102,000. Support Levels: Critical support rests near $93,500, where bulls need to maintain control to preserve the bullish outlook. -------------------------------------- Momentum Indicators: Volume: A noticeable decline during the wedge's formation suggests consolidation, often preceding a strong breakout. Relative Strength Index (RSI): The RSI is turning upward from oversold levels, signaling increasing buying pressure. -------------------------------------- Trade Setup: Entry: Watch for a confirmed breakout above $98,000. Targets: The first target lies at $101,200, with the potential for further upside toward $105,000 if momentum sustains. Stop Loss: A break below $93,500 invalidates the bullish scenario.
Long
by melikatrader94
4
Bitcoin BTC Has Almost Finished Correction: Huge Gains Ahead!Hello, Skyrexians! We hope you made a right decision when received the warning sign by our Bullish/Bearish Reversal Bar Indicator from our previous Bitcoin analysis . Now we see that this correction is happening right now and there is some space to go down more but not that much as you may be think. Let's take a look at the daily BINANCE:BTCUSDT chart. We can see that our indicator has printed the red dot at the top of the wave 3. After that this dump has been started. This is wave 4 and it has the clear target between 0.38 and 0.5 Fibonacci levels. Therefore we can conclude that max target which price can reach before the reversal is 84k, but it's more likely the reversal will happen earlier, at $89k. When correction will be finished we can expect the wave 5 with the optimistic targets between $120k and $140k. Here is nothing change from the last analysis. As always, alerts from this indicator are automatically replicated on my accounts. You can find the information in our article on TradingView . Best regards, Skyrexio Team ___________________________________________________________ Please, boost this article and subscribe our page if you like analysis!
by Skyrexio
BTC will fill CME GAP at around 77KWe're seeing some wild swings in Bitcoin's price, and I'm calling it: this isn't just the market doing its thing. I mean, where's all the BTC on exchanges? It's like there's none left, and the prices are shooting up to levels that Wall Street boys would think twice about jumping into. This smells like big-time manipulation by the heavy hitters, like those hedge fund giants and the exchanges themselves. They've got the power to make the market dance, and with so little Bitcoin floating around, every move they make has an outsized impact. It's like they're playing with a loaded deck. I'm not saying I've got the smoking gun, but the signs are there. When you see prices that don't match the supply, you gotta wonder, right? Are we just pawns in their game, or is there something else at play? Let's keep our eyes peeled, because if this is manipulation, it's on a whole new level. What do you guys think? Am I onto something, or am I just seeing shadows? Remember, this is speculative based on what we're observing in the market, and while manipulation is a concern, it's one among many factors influencing crypto prices. Whats your thouhts?
CME:BTC1!Short
by r0b1n4t0r
What's next for BTC? Will the correction go lower?Hello everyone, I invite you to review the situation of BTC, which has currently had a -15% price correction. This is a natural correction in the growth cycle, and what's more, much larger corrections at 20% or 30% levels often appeared in bull cycles. Let's start with how the price moved in the local growth trend channel, in which we can see how dynamically we went down to the lower zone of the channel, which translated into a further drop in price reaching the support level at $ 91,712. In such a situation, it should be taken into account that very often leaving the channel gives a movement close to the channel height, which could cause the BTC price to drop to the support level at $ 84,072. If the current rebound from the level of around $92,000 ends the current correction, however, here we see how the level of $95,004 poses effective resistance for the price, only when it is broken again will it go further to the area of ​​$101,000, and then again move towards the strong resistance zone from $106,000 to $108,000. On the RSI, taking into account the 12H interval, we have a visible descent with crossing the lower limit, which in previous situations gave rise to renewed price increases.
COINBASE:BTCUSDLong
by cryptodailyuk
Is the Top In? Bitcoin's Diminishing ReturnsMany of us have seen the Bitcoin Rainbow chart before. Right now, it implies that there is still room for another leg higher. According to Blockchain Center's 2023 chart , the 'Is this a bubble?' price range is around $111,914 to $143,429. However, we also see the highs diminish over time. The first peak is outside of 'Maximum Bubble Territory,' the second reaching the same area, and the third hitting 'Sell. Seriously, SELL.' While this pattern suggests BTC may only reach 'Is this a bubble?' or 'FOMO intensifies' this cycle, there's another pattern that indicates 'HODL' might be as far as it goes. In the logarithmic chart above, we can see that BTC's price follows a pattern of diminishing returns. It has moved from low to high as follows (rounded): 1. 2010/2011: 0.01 to 31.91 = 3,191x 2. 2011/2013: 1.99 to 1,242 = 624x 3. 2015/2017: 162 to 19,785 = 122x 4. 2018/2021: 3,125 to 68,977 = 22x 5. 2022/2024: 15,479 to 108,367 = 7x That means the multipliers from low to high have decreased with the following factors: 624.12 ÷ 3,191 ≈ 0.1957 (a 5.10x factor decrease) 122.09 ÷ 624.12 ≈ 0.1955 (a 5.11x factor decrease) 22.07 ÷ 122.09 ≈ 0.1809 (a 5.52x factor decrease) 7.00 ÷ 22.07 ≈ 0.3170 (a 3.15x factor decrease) The most recent bullish run appears to be an outlier; if there'd been a 5.52x factor decrease from 22.07, that would've meant a rough 4x (22.07 ÷ 5.52) from the low, or a peak of 61,916. There are multiple ways to interpret this pattern, and why it may or may not be holding this time around: On the bullish side: It's 'different' this cycle A pro-crypto Trump administration/SEC chair shifts fundamentals Growing legitimisation of BTC in institutional and regulatory circles More funds flowing in via BTC ETFs Currency debasement means more demand for BTC The Rainbow chart indicates there's more room to grow The halving pattern is still playing out Search interest is below previous peaks on Google Trends , implying more potential interest On the bearish side: The culmination of bullish fundamental factors has overextended the pattern (much like how RSI can show an asset overbought for a long time before an eventual correction) A risk-on year for assets more broadly has dragged BTC up with it, taking it past the established pattern A larger market cap makes it harder to continue expanding exponentially as the market matures. BTC's market cap is $1.8t right now. There is diminishing marginal demand—those already interested in BTC have bought in, reducing the pool of potential buyers The Fear and Greed index has already reached levels see in previous peaks, like 2021 The feverishness surrounding meme coins is reminiscent of previous bubbles, like the ICO bubble and Dotcom bubble Discussion I think there are strong arguments to be made on both sides. On one hand, it's true that it really might be different this time around. There's certainly more institutional adoption and regulatory clarity than ever before, with Trump even talking about a strategic Bitcoin reserve. There weren't Bitcoin ETFs in previous cycles, and the halving pattern suggests a peak usually around 1-1.5 years later; it's only been 8 months since the halving in April. While the dollar will likely get stronger under Trump (potentially weakening BTC), there is the argument that weakening purchasing power in many countries is driving entities towards 'hard' assets, like gold, silver, and Bitcoin. Then there is the room for more retail investors to participate, given search results for ' Bitcoin ' and ' buy Bitcoin ' are lower than previous highs (though I will note that 2021 was also lower than 2017). Lastly, while the Rainbow chart does show diminishing peaks, it does suggest we could still hit 'Is this a bubble?' or higher. On the other hand, this recent run to $100k+ was mostly fueled by Trump's election win and his backing of crypto-friendly Paul Atkins for SEC chair. BTC jumped from around $69k on the day of the election—a bit above the top projected by the factor decrease pattern—and Trump's win may have temporarily distorted the pattern. It is also possible that the market is reaching maturity. Assuming that BTC will move to $250k in 2025 as some predict, its market cap would be around $4.9t. That would put it above Apple's market cap of $3.775t but still decently below gold's $17.6t . However, there's a reason gold is the most valuable asset in the world by market cap: it has historical, cultural, and social significance. Its durability and lustre meant it was used to decorate temples in ancient times and as a symbol of divinity. Over time, that led to it being valued as currency in ancient empires and eventually backing the dollar. In contrast, Bitcoin is relatively young; while feasible that it could eventually overtake gold and still remarkable that it's achieved such a large market cap in around 15 years, it does beg the question if $250k would be too far, too soon. After all, central banks are hoarding gold right now, not Bitcoin. This ties in with the reducing marginal demand for BTC. Those who already believe in its potential have bought in; while the number of participants is likely to go up over time, there don't seem to be many catalysts for many more to join in the near-term (besides rumours of a strategic BTC reserve). 2017 was the first time BTC really went mainstream. Alongside relatively low interest rates and a weak dollar, FOMO drove the rally; BTC jumped more than 20x that year. 2021 was similar; cheap money, pandemic boredom, a broader awareness of crypto, and FOMO, pushed BTC to new ATHs. Looking ahead to 2025, there appear to be more bearish catalysts than bullish. Most notable is a Fed worried about inflation and whether it's appropriate to pause easing of rate cuts ( Deutsche Bank expects no cuts in 2025 , which while a bit extreme, is indication of the current state of affairs). At the time of writing, that's already pushed BTC down to GETTEX:92K from $108k. There is a US stock market that has risen over 60% since the start of 2023, compared to an average annual return of around 10-11% since 1980. There's also the promise of inflationary tariffs, discretionary spending cuts, rising yields, etc. all of which are the opposite of bullish signals. Combined with the Fear and Greed index hitting 94 in November (just under the 95 peak in early 2021, late 2021 saw peaks of 74) and extraordinary runup in memecoins recently—Fartcoin is worth $1.25 billion right now, up from $40 million at the end of October—the vibes are feeling a bit toppy. Conclusion In my opinion and on the balance of probabilities, the combination of the currently-overextended diminishing returns pattern and the fundamental factors described skews Bitcoin bearish from here. There are certainly many counter-arguments to be made and I respect the fact that markets can stay irrational for a long, long time and I could be completely wrong (along with the fact I have my own biases). But, I do think it's at least difficult for me to be bullish or buy into Bitcoin here. The risk-reward isn't great; maybe a 2x is achievable, and that also possibly explains a lack of further retail interest and the pump in meme coins recently. As an aside, it's interesting that this pattern would theoretically continue to produce diminishing returns until the multiplier eventually reaches near-zero. I don't think that would be how it works in reality, but it does indicate that Bitcoin could reach a ceiling as cycles continue. Does that imply the pattern has to break at some point, or that there is a true 'natural' high for BTC? I'd be interested to hear your thoughts. Thanks for reading. Disclaimer: This content is for informational purposes only and should not be considered financial, investment, or trading advice. The author is not responsible for any financial losses incurred based on this information. The opinions expressed are solely those of the author and are based on current data and analysis, which may not be accurate or complete. Always conduct your own research.
CRYPTO:BTCUSDShort
by pasojov
1
Technical Review - BTCThere are lots of confident predictions about where markets will head next. However, at its core, trading is about speculation and taking calculated risks—not about certainty. In this post, I'll share some technical trades in BTC from recent price action. While hindsight bias will naturally come into play, I did take several of these setups in real time. Higher Timeframe Context (1-Month) In terms of the higher timeframe context, there has been a clear uptrend with two distinct continuation setups (noticeable move up, followed by a contraction towards the mean price which then sets up for a continuation). At the current time there has been an attempt for a third move. These could have been entered on the range expansion from the contractive state, however when prices become extended towards the outer boundaries we better be cautious due to risk of mean reversion. At such extremes, its better to scale out or look for better opportunities. These locations are often reached as measured moves (assumed average price volatility is sustained, as seen on the right side of the chart). This does not meant the move is over, but rather where the risk of mean reversion is increased, price can deviate from average volatility all the time. This analysis is not a prediction of future behavior, but rather a review of recent events and how they could have been traded in technical terms. There is also a component of discretion, which occur in in real time, but is not relevant to asses at this point. Before we take a trade we want to consider: What is the current structure in play, is it a trend or a range? Where is price located within that structure, are we at or near extremes? In case above conditions are met, is there a setup or an entry trigger? This all boils down to the search for imbalance. Daily Timeframe: Range-Bound Trading Opportunities In terms of my trading timeframe, which is the daily, BTC has spent the past months within a distinct range. When such a structure is in play, the locations of interest are at or near the extremes (upper and lower boundaries) where imbalances tend to occur. Efficient trades at these extremes typically arise when there’s a failure test (also known as a failed breakout or 2B pattern). In these cases, price pushes outside the boundary, fails to follow through, and reverses back inside—often trapping participants and can fuel a move in the opposite direction. This dynamic tend to hold until there is an actual breakout, there is no bulletproof way to know what will happened, but most of the time it can be helpful to reference the higher timeframe. For example, in case breakout happen in opposite to the trend we can treat them as potential failures, while with trend (as in this case with BTC to the upside) we can either treat them as breakouts or at least not fade the move. There are however exceptions and nuances to these type of plays. On the chart, I’ve marked all failure tests where price moved back into the range and formed bullish continuation structures. These setups offered opportunities to enter and take profits. In my case, I typically targeted 1R trades on these setups, with some extending into full measured moves. In conclusion, its probably a decent idea to have a structured framework to locate imbalance, but it must be combined with discretion so we can adapt to different conditions. Its not about confident predictions, but rather probabilities and calculated risks. Don't become attached to positions, let the cumulative effect drive results.
BITSTAMP:BTCUSD
by Trader-Shah
BTC Technical Analysis Kept SimpleThis chart shows Bitcoin (BTC/USDT) price movement on a daily timeframe with several technical indicators and key levels highlighted. Here is a breakdown of the analysis: Key Observations: 1. Price Levels: The price recently broke below the 127.20% Fibonacci extension level near $105,595, which now acts as resistance. The 100% Fibonacci level, around $94,916, is being tested and might act as support. There is a green support zone near $85,000–$95,000 that could serve as a demand area for buyers. 2. Indicators: Parabolic SAR (red dot): Indicates a bearish trend as the dot is above the price candles. On-Balance Volume (OBV): Showing a downward trend, signaling decreasing buying pressure or increasing selling volume. Relative Strength Index (RSI): At 45.05, indicating neutral to slightly bearish momentum. The RSI is trending downward, which aligns with the price drop. Chaikin Money Flow (CMF): At 0.02, near the neutral line, suggesting weak inflows or a lack of strong accumulation. 3. 200-Day Moving Average (Red Line): The 200-day moving average is rising but is significantly below the current price. This could indicate that the long-term trend remains bullish despite the short-term correction. 4. Volume: Recent candles show higher volume on red candles, suggesting stronger selling pressure during the price drop. Potential Scenarios: 1. Bullish Case: If the price holds above the $94,916 (100% Fib level) or rebounds from the support zone ($85,000–$95,000), it could trigger a bullish recovery toward $105,595 and potentially retest $108,421. A positive divergence in OBV or RSI could strengthen this case. 2. Bearish Case: If the price breaks below the 100% Fib level, the next key support lies at $85,000–$86,000. A failure to hold this zone might lead to a deeper correction toward the 78.60% Fibonacci retracement level at $70,041. Summary: The price is in a short-term downtrend while approaching a significant support zone.
by vagada