Key Levels and Observations
Previous All-Time High (ATH):
Clearly marked and seems to have acted as both resistance and psychological reference point.
Price briefly tested this level before consolidating below.
Resistance Zones:
Highlighted in Red: These zones indicate where selling pressure is concentrated. The recent move upwards has struggled near the $106,000 zone (1.618 Fibonacci extension) and the resistance cluster below $108,000.
Red Circle near ATH: Indicates a critical rejection zone where bears might be stepping in to control the price.
Support Zones:
Fibonacci levels from $91,000 to $99,500 (0.618, 0.5, and 0.382 retracement levels) show clear support zones where buyers may accumulate.
The green lines below $92,000 show additional support extensions for deeper corrections.
Black Swan Warning ("Dump Incoming"):
Suggests the possibility of a sudden, sharp decline. This may be speculative but worth noting for risk management.
Red zone above $108,000 highlights extreme caution.
Trend Lines:
Dashed upward trendline indicates the broader uptrend still intact, but a breach below would signal a possible reversal.
Market Sentiment:
"BTC CRASH ALERT" emphasizes bearish caution.
"The Bears are out watchout" adds to the bearish sentiment as Bitcoin approaches resistance zones.
Fibonacci Analysis
Key Fibonacci Retracement Levels:
0.236 ($99,417): Currently holding as weak support.
0.382 ($100,793): Significant midpoint level currently in play.
0.5 ($101,905) and 0.618 ($103,017): Critical retracement levels to watch for continuation or reversal.
1.618 Extension ($106,436): Serves as an immediate resistance target.
Deep Retracement Zone:
0.618 ($95,308) to 1.0 ($92,918) retracement range indicates the strongest support for a larger correction.
Scenarios to Watch
Bullish Scenario (Breakout):
Price breaks and holds above $106,000 (1.618 Fibonacci).
Retests and holds $108,000, targeting new highs.
Bearish Scenario (Fakeout or Dump):
Price fails to sustain $104,000 or falls below $101,000 (0.382 retracement).
A sharp correction could target deeper support levels at $95,000–$92,000.
Neutral/Consolidation:
Price remains range-bound between $101,000 and $106,000, building momentum for a directional move.
Actionable Points
Shorting Resistance Zones: Monitor for price rejections near $106,000 and $108,000. Bearish candlestick patterns here could confirm a short trade.
Buying Support Levels: Look for bullish signals around $95,000–$92,000 or key Fibonacci levels.
Breakout Entries: If Bitcoin closes decisively above $106,000, a breakout trade could target $110,000 or higher.
Stop-Loss Management:
For longs: Place below $95,000.
For shorts: Place above $108,000.
Previous All-Time High (ATH):
Clearly marked and seems to have acted as both resistance and psychological reference point.
Price briefly tested this level before consolidating below.
Resistance Zones:
Highlighted in Red: These zones indicate where selling pressure is concentrated. The recent move upwards has struggled near the $106,000 zone (1.618 Fibonacci extension) and the resistance cluster below $108,000.
Red Circle near ATH: Indicates a critical rejection zone where bears might be stepping in to control the price.
Support Zones:
Fibonacci levels from $91,000 to $99,500 (0.618, 0.5, and 0.382 retracement levels) show clear support zones where buyers may accumulate.
The green lines below $92,000 show additional support extensions for deeper corrections.
Black Swan Warning ("Dump Incoming"):
Suggests the possibility of a sudden, sharp decline. This may be speculative but worth noting for risk management.
Red zone above $108,000 highlights extreme caution.
Trend Lines:
Dashed upward trendline indicates the broader uptrend still intact, but a breach below would signal a possible reversal.
Market Sentiment:
"BTC CRASH ALERT" emphasizes bearish caution.
"The Bears are out watchout" adds to the bearish sentiment as Bitcoin approaches resistance zones.
Fibonacci Analysis
Key Fibonacci Retracement Levels:
0.236 ($99,417): Currently holding as weak support.
0.382 ($100,793): Significant midpoint level currently in play.
0.5 ($101,905) and 0.618 ($103,017): Critical retracement levels to watch for continuation or reversal.
1.618 Extension ($106,436): Serves as an immediate resistance target.
Deep Retracement Zone:
0.618 ($95,308) to 1.0 ($92,918) retracement range indicates the strongest support for a larger correction.
Scenarios to Watch
Bullish Scenario (Breakout):
Price breaks and holds above $106,000 (1.618 Fibonacci).
Retests and holds $108,000, targeting new highs.
Bearish Scenario (Fakeout or Dump):
Price fails to sustain $104,000 or falls below $101,000 (0.382 retracement).
A sharp correction could target deeper support levels at $95,000–$92,000.
Neutral/Consolidation:
Price remains range-bound between $101,000 and $106,000, building momentum for a directional move.
Actionable Points
Shorting Resistance Zones: Monitor for price rejections near $106,000 and $108,000. Bearish candlestick patterns here could confirm a short trade.
Buying Support Levels: Look for bullish signals around $95,000–$92,000 or key Fibonacci levels.
Breakout Entries: If Bitcoin closes decisively above $106,000, a breakout trade could target $110,000 or higher.
Stop-Loss Management:
For longs: Place below $95,000.
For shorts: Place above $108,000.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.