Bitcoin has recently experienced a strong bullish reversal from a critical support zone defined by the 0.5 and 0.618 Fibonacci levels. BTC is now approaching the 100-day moving average at $61.6K, where it may face significant selling pressure, suggesting a possible short-term consolidation.

The 4-hour chart shows that the asset has reached support at $53K, which has triggered a steady uptrend. If buyers can break the resistance zone near $65K, the next target will be $70K. Otherwise, a pullback to $52K-$54K is possible.

MVRV analysis shows that the ratio has fallen below the 365-day moving average, which historically indicates the beginning of a market recovery. However, the current conditions require caution and patience. 📉📈