Guys, BTC is reaching a big resistance zone between 106,500 - 111,000. This blue trendline has been there for years, and now the price is testing it again.
There are a few important things to note:
1. This trendline resistance is strong, so the price can face rejection here.
2. The Fibonacci golden zone (61.8%) is around 107,942, so this area is crucial. If BTC struggles here, it can pull back (dump).
BTC has been bullish with multiple Break of Structures (BOS), but this area looks like a point where the rally might stop i think.
Price is still above the EMAs (20/50), so the trend is strong. But if rejection happens, price can drop to 91,962 or even 88,837.