BTC Update: stuck between the Fibs 11 jan 2024.
2025-01-11
Category: None

📉 BTC Update: Between the Fibs 🎯

BTC is currently trading at 94.5k, stuck between two Fibonacci levels:

0.886 Fib = 97,765
0.786 Fib = 88,477

This range is a critical decision zone for the market. Consolidation here suggests indecision, but here's what might happen:

➡️ Odds of Hitting 0.786 (88,477):
If the selling pressure increases, the price could test the 0.786 level, which can act as a key support for the next season.

➡️ Reversal and Move Back to 1 Fib (Origin):
A bounce from 0.786 could signal a strong bullish reversal, with the price potentially climbing back toward the 1 Fib (full retracement). This would require strong buying volume and confidence returning to the market.

🛑 Key Zone to Watch:
The 94.5k level is a battleground. A breakout above 0.886 (97,765) increases the odds of continuing the uptrend. A breakdown below 0.786 (88,477) might lead to further bearish momentum.

If BTC doesn't touch the 0.786 Fib level, it signals that buyers stepped in early, showing strength and confidence in the uptrend. 📈
Skipping 0.786 suggests strong demand, reducing the need for deeper retracement.

Higher Low Formation: The price might establish a higher low above 0.786, confirming the bullish structure.

🚀 Stay sharp—confirmation above 0.886 Fib is crucial before we go anywhere further!

P.S. Once a new high is made, the current setup will be automatically invalidated and the fib structure will reset! 🚨