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$BTC Monday Update #172‼️ Really I'm sorry to say this, but this is what's coming next🥲
📉 BTC has hit a major resistance zone marked by a multi-year trendline (red line on the 1st chart) that dates back to December 2017. Historically, BTC has rejected at this trendline, as seen in 2021 and early 2022. Right now, BTC is trading near $104,984, which is a key point of interest.
As predicted in our last community update, I mentioned that "Now, there's a possibility of a BTC pump with volume pushing BTC towards $103.5k, If we hold the $103.5 support, another pump to $106.5 might be possible." and it has followed this expectation and perfectly hit $106.6k in Binance Spot.
Now, there's a possibility of a a small correction BTC towards $103k, which could trigger some liquidations around $100.3k $99.5k
Two scenarios 👀 could play out here:
🔴 Scenario A: Rejection at $105K
BTC may correct down to $101K, with further downside to $99K if support breaks.
🟢 Scenario B: Breakout Above $107K:
A clear break above resistance could push BTC to $110K and higher.
Retest of Support:
Watch the lower channel trendline and Fibonacci levels closely.
First support: $101,059 (50% Fibonacci Retracement) (2nd chart)
Stronger support: $99,467 (61.8% Fibonacci), often a key reversal point.
Deeper correction possible: $94,300 (100% Fib level and major support).
📉 BTC has hit a major resistance zone marked by a multi-year trendline (red line on the 1st chart) that dates back to December 2017. Historically, BTC has rejected at this trendline, as seen in 2021 and early 2022. Right now, BTC is trading near $104,984, which is a key point of interest.
As predicted in our last community update, I mentioned that "Now, there's a possibility of a BTC pump with volume pushing BTC towards $103.5k, If we hold the $103.5 support, another pump to $106.5 might be possible." and it has followed this expectation and perfectly hit $106.6k in Binance Spot.
Now, there's a possibility of a a small correction BTC towards $103k, which could trigger some liquidations around $100.3k $99.5k
Two scenarios 👀 could play out here:
🔴 Scenario A: Rejection at $105K
BTC may correct down to $101K, with further downside to $99K if support breaks.
🟢 Scenario B: Breakout Above $107K:
A clear break above resistance could push BTC to $110K and higher.
Retest of Support:
Watch the lower channel trendline and Fibonacci levels closely.
First support: $101,059 (50% Fibonacci Retracement) (2nd chart)
Stronger support: $99,467 (61.8% Fibonacci), often a key reversal point.
Deeper correction possible: $94,300 (100% Fib level and major support).
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