Bitcoin $BTC
is approaching a crucial inflection zone between $113K–$115K, which could serve as a major reversal area. Here’s why this zone demands close attention:
Key Confluences:
1. Fib Extension Resistance: From the March high of $73K to the August low of $49K, the 2.618 Fibonacci extension lands near $113,600—a level historically known to act as strong resistance.
2. Recent Market Structure: Measuring the recent move from the February swing high at $99K to the swing low at $73K, the 1.618 fib extension aligns near $115K.
3. Broken Trendline Retest: A previously respected inner bullish trendline has been broken—and it now lines up with this same $113K–$115K area, suggesting potential rejection.
In my view, this rally looks more like a technical retest of broken market structures rather than a sustainable continuation. Until we revisit key bearish sequences and trendlines, a true altseason may remain out of reach.
The $60K–$65K zone remains a critical area of interest and potential support if BTC $BTC begins to correct.
Sentiment Check:
FOMO#FOMO! is dominating the market again. We're in that euphoric stage where many believe Bitcoin will never pull back—but history shows otherwise. After more than six weeks of relentless upward movement, the market may be ripe for a correction.
Final Note: Stay patient. Markets don’t move in a straight line, and emotional trading is often punished.
#BTC ATH110K #CryptoAnalysis📈📉🐋📅🚀 #Bitcoin $BTC