Bitcoin has been locked in a range for the past 45 days, clinging above the critical psychological support at $100K. But cracks are starting to show…
Every bounce from the key level at $102,430 has been weakening — and now, for the first time, we’re breaking cleanly below it. Things are starting to tilt bearish.
So the question is…
⛏️ Will 100K be tested next?
🔍 Key Support Zone: $97.7K–$96.9K
Using the Fibonacci retracement from the swing low at $74.5K to the recent ATH, the 0.382 retracement lands at $97,655 — just below the $100K mark.
But there’s more…
Here’s why the zone between $97.7K and $96.9K is crucial:
All of this stacks up to a high-probability long setup.
🕵️♂️ What to Do Now?
Set alerts at $100K and watch for a reaction. If price slices through, shift focus to the 0.382 Fib — monitor price action closely for signs of a reversal.
The first clean test of this zone could present a solid long — but as usual don’t trade blindly. Wait for confirmation.
_________________________________
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Every bounce from the key level at $102,430 has been weakening — and now, for the first time, we’re breaking cleanly below it. Things are starting to tilt bearish.
So the question is…
⛏️ Will 100K be tested next?
🔍 Key Support Zone: $97.7K–$96.9K
Using the Fibonacci retracement from the swing low at $74.5K to the recent ATH, the 0.382 retracement lands at $97,655 — just below the $100K mark.
But there’s more…
Here’s why the zone between $97.7K and $96.9K is crucial:
- 0.382 Fibonacci retracement: A common pullback level in strong uptrends.
- Anchored VWAP from $74.5K: Currently sitting around $96.9K, tracking cumulative volume-weighted average price — a key level.
- Daily Order Block: Sits right at $96,887, aligning with the VWAP and reinforcing the area as demand-rich.
- 1.272 Fibonacci extension: From the previous move — providing another layer of confluence.
- Fair Value Gap (FVG): The imbalance lies right in this zone. Price often fills these before continuing trend.
All of this stacks up to a high-probability long setup.
🕵️♂️ What to Do Now?
Set alerts at $100K and watch for a reaction. If price slices through, shift focus to the 0.382 Fib — monitor price action closely for signs of a reversal.
The first clean test of this zone could present a solid long — but as usual don’t trade blindly. Wait for confirmation.
_________________________________
💬 If you found this helpful, drop a like and comment!
Want breakdowns of other charts? Leave your requests below.
🏆 Mastering Fibonacci for precision trading
🔹 Sharing high-probability trade setups
⚡ Unlock the power of technical analysis!
🔹 Sharing high-probability trade setups
⚡ Unlock the power of technical analysis!
Related publications
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.
🏆 Mastering Fibonacci for precision trading
🔹 Sharing high-probability trade setups
⚡ Unlock the power of technical analysis!
🔹 Sharing high-probability trade setups
⚡ Unlock the power of technical analysis!
Related publications
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.