Bitcoin (BTC) faced a major rejection at the 0.236 Fibonacci level on November 22, 2024 — the 1st Real Resistance of this Bull Cycle. Historically, this level has been a significant rejection point in past bull markets (2019 & 2024). Now, the next major move depends on holding the 1W MA50, which has supported the uptrend since August 5, 2024.
Current Market View:
If BTC Holds MA50: Bullish momentum remains intact, targeting a potential high around $100,000 in late 2025.
If BTC Breaks MA50: Bearish correction likely to continue, revisiting $85k-$86k.
Key Levels:
Support: MA50 Trendline
Resistance: 0.236 Fibonacci Level ($65,000–$70,000)
💥 Leverage: 5x for risk-managed trades.
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