BTC Medium-Term Trend Analysis: New High Resistance is Heavy, Upward Space May Stop at the $100,000 Mark
1) Core Variables of Trend and Space - Volume Signals Show Fatigue. From the daily trading volume performance, the current market trading enthusiasm continues to shrink, releasing a warning signal of insufficient momentum.
2) From the perspective of Elliott Wave Theory, BTC may be playing out a daily level three-wave structure. Combining Fibonacci retracement calculations, if the trend continues, the target is likely to reach the 0.786 Fibonacci retracement level, corresponding to the $100,000 integer mark. Against the backdrop of continuously declining volume, breaking through historical highs becomes significantly more difficult.
3) In a conservative expectation, if the price encounters resistance and falls back at the 0.618 Fibonacci retracement level (approximately $96,000), this round of rebound may end prematurely.
