🚨 BTC Market Analysis: Liquidity Squeeze & Potential Retracement 🚨

Market dynamics are signaling a significant liquidity grab. Here's a breakdown of the key levels and potential scenarios:

Initial Bounce: We've observed a rebound from the 0.5 Fibonacci retracement level, suggesting initial support.

Key Target: 95.8k Zone: Our analysis indicates a potential retracement towards the 95.8k zone. This area converges with the 0.618 Fibonacci retracement, a historically significant level, and coincides with a cluster of resting liquidity (buy orders). This makes it a high-probability target for market makers seeking to induce volatility and capture orders.

Anticipated Price Action: We anticipate a short-term relief rally from the current price, likely forming a lower high. This setup would create an opportunity for a subsequent move down to test the 95.8k support. This move could liquidate leveraged long positions and provide an entry point for larger players.

Considerations: It's important to monitor order book depth and volume at the 95.8k level for confirmation of a potential reversal or further downside.

Trading Strategy (For Educational Purposes Only): Observing price action and volume at the 95.8k level will be crucial. A strong rejection with high volume could signal a potential long entry. Conversely, a break below this level could open the door for further downside.

Disclaimer: This analysis is for educational purposes only. #DYOR