🧠 Chart Description & Market Structure:
The BTCUSD daily chart is showing a consolidation phase after forming a local high near $123,231. Currently, the price is retracing and approaching a key Fibonacci retracement zone between the 0.5 level ($115,557) and 0.618 level ($113,740) — also known as the Golden Pocket, which is often a strong reversal area.
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📈 Bullish Scenario:
If the price holds within or just above the 0.5–0.618 Fibonacci zone (highlighted in yellow) and forms a bullish reversal candlestick (like a hammer, bullish engulfing, or pin bar), there’s a high probability for BTC to resume its uptrend.
Bullish upside targets include:
$119,842 as minor resistance.
$123,231 as the previous swing high and a key breakout confirmation.
A successful break above $123,231 could send BTC toward the next major targets around $128K–$132K.
---
📉 Bearish Scenario:
If the price fails to hold the 0.618 Fibonacci level ($113,740) and breaks down below the key psychological support at $111,500, a deeper correction may occur.
Downside targets:
$108K–$106K as the next major support zone.
A break below this could lead to the formation of a lower high structure and potentially trigger a bearish continuation.
---
📊 Pattern Observations:
Potential Bullish Flag or Rectangle Consolidation: The price action suggests horizontal consolidation after a strong rally — possibly a re-accumulation zone before a bullish continuation.
Golden Pocket Retest: Price is currently testing the Fibonacci 0.5–0.618 zone, often targeted by institutional buyers and technical traders as a potential entry point.
---
🧭 Key Levels to Watch:
Major Resistance: $123,231 (swing high)
Minor Resistance: $119,842
Fibonacci 0.5: $115,557
Fibonacci 0.618: $113,740
Key Support: $111,500
---
🔖 Conclusion:
BTC is currently in a decision zone. Price action within the $115,500–$113,700 range will be crucial. Will this be a healthy retracement before the next leg up — or the beginning of a deeper correction?
#BTCUSD #BitcoinAnalysis #CryptoTA #FibonacciRetracement #CryptoChart #BitcoinDaily #BullishSetup #BearishSetup #CryptoMarket
The BTCUSD daily chart is showing a consolidation phase after forming a local high near $123,231. Currently, the price is retracing and approaching a key Fibonacci retracement zone between the 0.5 level ($115,557) and 0.618 level ($113,740) — also known as the Golden Pocket, which is often a strong reversal area.
---
📈 Bullish Scenario:
If the price holds within or just above the 0.5–0.618 Fibonacci zone (highlighted in yellow) and forms a bullish reversal candlestick (like a hammer, bullish engulfing, or pin bar), there’s a high probability for BTC to resume its uptrend.
Bullish upside targets include:
$119,842 as minor resistance.
$123,231 as the previous swing high and a key breakout confirmation.
A successful break above $123,231 could send BTC toward the next major targets around $128K–$132K.
---
📉 Bearish Scenario:
If the price fails to hold the 0.618 Fibonacci level ($113,740) and breaks down below the key psychological support at $111,500, a deeper correction may occur.
Downside targets:
$108K–$106K as the next major support zone.
A break below this could lead to the formation of a lower high structure and potentially trigger a bearish continuation.
---
📊 Pattern Observations:
Potential Bullish Flag or Rectangle Consolidation: The price action suggests horizontal consolidation after a strong rally — possibly a re-accumulation zone before a bullish continuation.
Golden Pocket Retest: Price is currently testing the Fibonacci 0.5–0.618 zone, often targeted by institutional buyers and technical traders as a potential entry point.
---
🧭 Key Levels to Watch:
Major Resistance: $123,231 (swing high)
Minor Resistance: $119,842
Fibonacci 0.5: $115,557
Fibonacci 0.618: $113,740
Key Support: $111,500
---
🔖 Conclusion:
BTC is currently in a decision zone. Price action within the $115,500–$113,700 range will be crucial. Will this be a healthy retracement before the next leg up — or the beginning of a deeper correction?
#BTCUSD #BitcoinAnalysis #CryptoTA #FibonacciRetracement #CryptoChart #BitcoinDaily #BullishSetup #BearishSetup #CryptoMarket
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✅ Twitter: twitter.com/crypto_nuclear
✅ Join Bybit : partner.bybit.com/b/nuclearvip
✅ Benefits : Lifetime Trading Fee Discount -50%
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.