🧵 $BTC : Are the bulls defending the recovery area?
BTC 8H – Fib support holds
📉 Current price: $113,832
📊 Daily change: -0.73%
🔁 Pair: BTCUSDT (perpetual)
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🔹 Structure and technical levels:
- The price is re-testing the reclaimed range from above (the blue box).
- The golden pocket area (0.5–0.618) from the July recovery is located just below the current price.
- The 0.5 level at $110,879 intersects with the previous accumulation structure.
- The 0.786 level at $103,802 represents a potential invalidation point.
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🔹 Momentum check:
- The Stoch RSI indicator is bending downward from the overbought area.
- Momentum is fading, increasing the likelihood of testing Fib levels before any bounce.
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🔹 Trading scenarios:
Scenario Description Potential target
✅ Defend support Bounce from $112K $118K–$120K
⚠️ Break support Drop towards the golden pocket $105K–$103K
🔄 Consolidation Sideways trading within the range $113K–$115K
🧠 Trading idea:
- Buy at support with a stop loss below $110K = calculated risk.
- Wait for confirmation of direction above $115K with strong trading volume = a more conservative trade.
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📌 The decision is now in the hands of the bulls: Are we witnessing a new bounce? Or is a deeper correction coming?
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