BTC push to 124.000€
2025-01-22
Category: None

Current Price 
The price is currently near the 0.236 Fibonacci level on the spiral, suggesting it is approaching a resistance zone.

 Trend: 
The overall market structure is bullish, as Bitcoin has been recovering from lower levels in a sustained upward trajectory.

The 1.618 Fibonacci spiral level, located far above the current price, could represent the long-term bullish target if Bitcoin successfully breaks through intermediate resistance levels.

 Potential Scenarios: 

 Bullish Case: 

If Bitcoin breaks above the 0.236 Fibonacci resistance decisively, the next targets could align with the 1.0 or 1.618 levels on the spiral. Such a move would likely require strong buying momentum and a pickup in volume.
A bullish continuation would also be supported by maintaining the current trendline and staying above key moving averages.

 Bearish Case: 
A rejection from the 0.236 level could lead to a retracement toward lower Fibonacci levels, such as 0.382 or 0.5. The 0.618 level could act as a strong support if the downtrend accelerates.
A failure to hold the diagonal trendline would invalidate the bullish structure and potentially signal a deeper correction.

 Likely Movement: 
Given the current position near a significant resistance zone, a short-term consolidation or pullback is plausible unless strong bullish momentum emerges. A breakout above the current level would signal a continuation of the uptrend, with potential targets toward the higher Fibonacci spiral levels.


 BITGET:BTCUSDT.P  