Bitcoin recently formed a higher low around the $111,600 level, which is an important structure to watch. This setup is still bearish in nature because if BTC loses this $111.6K support, it will confirm a deeper bearish trend taking hold. Right now, BTC is pulling back after being rejected at $115,000 and heading towards this crucial $111.6K zone.
If this support holds, we might see some relief or a bounce. But if it breaks, the next key area is the Fibonacci Golden Pocket between $107,000 and $108,000 — a critical level where bulls often try to defend. Failure to hold even the Golden Pocket would strengthen the bearish outlook further.
BTC is at a decisive point, and traders should closely watch how price behaves around these levels to understand if a recovery or a deeper drop is on the cards.
If this support holds, we might see some relief or a bounce. But if it breaks, the next key area is the Fibonacci Golden Pocket between $107,000 and $108,000 — a critical level where bulls often try to defend. Failure to hold even the Golden Pocket would strengthen the bearish outlook further.
BTC is at a decisive point, and traders should closely watch how price behaves around these levels to understand if a recovery or a deeper drop is on the cards.
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🌹TRADING is a CASINO💔!? NO‼️ You❗️CAN and ❗️SHOULD make money in trading! Join me, I'll guide you to PROFITABLE TRADING💵! 🟢Free Telegram Channel: : telegram.me/crypto_vulture_signals
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.