Key Levels and Observations
Previous All-Time High (ATH):
Clearly marked and seems to have acted as both resistance and psychological reference point.
Price briefly tested this level before consolidating below.
Resistance Zones:
Highlighted in Red: These zones indicate where selling pressure is concentrated. The recent move upwards has struggled near the $106,000 zone (1.618 Fibonacci extension) and the resistance cluster below $108,000.
Red Circle near ATH: Indicates a critical rejection zone where bears might be stepping in to control the price.
Support Zones:
Fibonacci levels from $91,000 to $99,500 (0.618, 0.5, and 0.382 retracement levels) show clear support zones where buyers may accumulate.
The green lines below $92,000 show additional support extensions for deeper corrections.
Black Swan Warning (“Dump Incoming”):
Suggests the possibility of a sudden, sharp decline. This may be speculative but worth noting for risk management.
Red zone above $108,000 highlights extreme caution.
Trend Lines:
Dashed upward trendline indicates the broader uptrend still intact, but a breach below would signal a possible reversal.
Market Sentiment:
“BTC CRASH ALERT” emphasizes bearish caution.
“The Bears are out watchout” adds to the bearish sentiment as Bitcoin approaches resistance zones.
Fibonacci Analysis
Key Fibonacci Retracement Levels:
0.236 ($99,417): Currently holding as weak support.
0.382 ($100,793): Significant midpoint level currently in play.
0.5 ($101,905) and 0.618 ($103,017): Critical retracement levels to watch for continuation or reversal.
1.618 Extension ($106,436): Serves as an immediate resistance target.
Deep Retracement Zone:
0.618 ($95,308) to 1.0 ($92,918) retracement range indicates the strongest support for a larger correction.
Scenarios to Watch
Bullish Scenario (Breakout):
Price breaks and holds above $106,000 (1.618 Fibonacci).
Retests and holds $108,000, targeting new highs.
Bearish Scenario (Fakeout or Dump):
Price fails to sustain $104,000 or falls below $101,000 (0.382 retracement).
A sharp correction could target deeper support levels at $95,000–$92,000.
Neutral/Consolidation:
Price remains range-bound between $101,000 and $106,000, building momentum for a directional move.
Actionable Points
Shorting Resistance Zones: Monitor for price rejections near $106,000 and $108,000. Bearish candlestick patterns here could confirm a short trade.
Buying Support Levels: Look for bullish signals around $95,000–$92,000 or key Fibonacci levels.
Breakout Entries: If Bitcoin closes decisively above $106,000, a breakout trade could target $110,000 or higher.
Stop-Loss Management:
For longs: Place below $95,000.
For shorts: Place above $108,000.