Bitcoin’s 4H chart is at a key decision point. After a strong breakout in early July, price has been consolidating just above the prior resistance zone — now acting as support. This white box represents a major reclaim level that has held multiple times, but buyers are starting to look fatigued.
Below this support lies a clean Fibonacci retracement zone:
0.5 at 110,971
0.618 (Golden Pocket) at 108,072
0.786 deeper pullback at 103,945
The structure remains intact for now, but a loss of the current level could trigger a deeper sweep into one of these fib levels — especially with momentum (Stoch RSI) resetting from oversold.
A potential bounce here keeps the uptrend alive. However, if the zone breaks, the .618 area may be the magnet.
📊 Watching for:
Strong reaction or absorption at this support
Bullish divergence forming
Sweep into golden pocket followed by reversal structure
This setup blends price action, key S/R levels, and Fib confluence — a great chart for anticipating the next move, not reacting to the last one.
Below this support lies a clean Fibonacci retracement zone:
0.5 at 110,971
0.618 (Golden Pocket) at 108,072
0.786 deeper pullback at 103,945
The structure remains intact for now, but a loss of the current level could trigger a deeper sweep into one of these fib levels — especially with momentum (Stoch RSI) resetting from oversold.
A potential bounce here keeps the uptrend alive. However, if the zone breaks, the .618 area may be the magnet.
📊 Watching for:
Strong reaction or absorption at this support
Bullish divergence forming
Sweep into golden pocket followed by reversal structure
This setup blends price action, key S/R levels, and Fib confluence — a great chart for anticipating the next move, not reacting to the last one.
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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.
Try our strategy optimizer at quanttradingpro.com
Developing free strategies weekly stay tuned...
Join our discord discord.gg/2systG9frc
We provide education & tools.
Developing free strategies weekly stay tuned...
Join our discord discord.gg/2systG9frc
We provide education & tools.
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.