BTC Market Analysis

After two days of adjustment over the weekend, Bitcoin has once again made a strong upward movement, approaching the recent rebound high near 99600. Coincidentally, this point is exactly at the Fibonacci 0.618 key level of this adjustment, and its importance is self-evident.

If it successfully breaks through, a new wave of upward momentum may begin, likely aiming for higher levels, potentially challenging the 110000 mark!

Conversely, if it faces continuous pressure at this point, Bitcoin will continue its adjustment trend, with the overall market entering a rectangular oscillation range. At that time, funds are likely to flow towards Ethereum and the altcoin market.

Currently, it is essential to pay close attention to the key resistance level at 99600 above, as well as the higher level at 103000;

Below, focus on the support levels at 97500 and 96800.