#btc
đ $BTC DAILY UPDATE
1D Timeframe
Bitcoin has reached our Fibonacci target at $121K, but price is starting to show signs of weakness, highlighted by a long upper wick, signaling selling pressure.
The nearest support is the FVG (purple rectangle) sitting at $114K, which is a -5.8% drawdown from here. At this stage, the risk-to-reward for entering a position is not favorable.
The best move now is to stay patient and do nothing, let the market develop, and shift focus to strong altcoins sitting at key support zones.
