Bitcoin faced strong resistance near the 61.8% Fibonacci retracement level (~116,400), aligning perfectly with a descending trendline from the previous highs — a classic confluence zone for a rejection.
🔻 Price formed a rejection wick and is now trading below that key zone, suggesting potential bearish pressure unless bulls reclaim and sustain above 116.4K.
📌 Key Levels:
Resistance: 116,400 (61.8% Fib + Trendline)
Immediate Support Zone: 115,250–114,500
Deeper Demand Zone: 113,250–113,000
💡 Watch how price reacts at the mid-support zone (115k). If broken, BTC could revisit the deep demand zone. Bulls must reclaim 116.4K for further upside continuation.
⚔️ Structure: Lower High in play
⏳ Timeframe: 1H
🛑 Bias: Short-term Bearish unless breakout confirmed above 116.4K
#Bitcoin #BTC #BTCUSD #CryptoTrading #TechnicalAnalysis #TradingView #PriceAction #Fibonacci #SupportResistance #BearishRejection #CryptoIndia #BitcoinAnalysis #BTCUpdate
🔻 Price formed a rejection wick and is now trading below that key zone, suggesting potential bearish pressure unless bulls reclaim and sustain above 116.4K.
📌 Key Levels:
Resistance: 116,400 (61.8% Fib + Trendline)
Immediate Support Zone: 115,250–114,500
Deeper Demand Zone: 113,250–113,000
💡 Watch how price reacts at the mid-support zone (115k). If broken, BTC could revisit the deep demand zone. Bulls must reclaim 116.4K for further upside continuation.
⚔️ Structure: Lower High in play
⏳ Timeframe: 1H
🛑 Bias: Short-term Bearish unless breakout confirmed above 116.4K
#Bitcoin #BTC #BTCUSD #CryptoTrading #TechnicalAnalysis #TradingView #PriceAction #Fibonacci #SupportResistance #BearishRejection #CryptoIndia #BitcoinAnalysis #BTCUpdate
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Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.