$BTC has seen significant movements in recent days. On 06/01/2025, the market reached the $102,880 mark, but suffered declines on 07/01 and 08/01, with the price reaching $92,500. This pullback is common in the market and serves to liquidate overly optimistic positions, offering good opportunities for conscious investors.
On the 4-hour chart, the support at $92,500 has almost reached the oversold level on the Relative Strength Index (RSI), indicating exhaustion of sellers. This scenario could open up space for a recovery in the short term.
On the Weekly (1H) chart, the price remains close to the Fibonacci* level (0.22), and we see the falling selling volume, showing solid support. However, nothing prevents the market from looking for lower support at $85,000 (level 0.38), which would still be healthy for the uptrend.
On the daily chart (1D), the price is compressing, forming a "funnel". This structure suggests that, like a spring stretching, the market could shoot towards the all-time high when released.
The correction is a reminder that in the cryptocurrency market, patience and strategy trump greed.
**(Fibonacci levels are technical analysis tools used to identify potential support and resistance areas in the prices of financial assets. They are based on the Fibonacci sequence, a mathematical series in which each number is the sum of the two preceding it. The key levels (0.236, 0.382, 0.5, 0.618 and 0.786) are calculated as ratios between the numbers in the sequence. In practice, they help traders predict where the price might correct or reverse in relation to a trend.)
This is technical analysis only, not investment advice.
#BTC #altcoins #bullish
