- BTC will retest the 100 EMA mirroring the August 2024 local bottom setup.
- Traders aim for a $86,000 resistance, with potential gatherings and breakdowns moving ahead.
- Institutions accumulate Bitcoin, and Federal Reserve policies affect market direction.
Bitcoin —BTC is at a critical level after losing 50% of its last big rally. The 100-day EMA on the 3-day chart will now serve as support, just like August 2024. That level marked the bottom of the locals of the time. Traders wonder if the same pattern will unfold again. The bull is fighting to regain momentum, but uncertainty remains. Meanwhile, institutions and long-term holders are quietly buying more Bitcoin and preparing for the next big move.
https://x.com/washigorira/status/1899406090040644016
Bitcoin bounces in resistance
Traders were edged at the early sale on Tuesday, but Bitcoin recovered with power. Buyers stepped in and raised prices. The next major target is $86,000 near the 200-day EMA. Once you’ve surpassed that level, your momentum will shift to $90,000. Fear still keeps track of financial markets and keeps traders careful. Bitcoin has a habit of dropping 15% before it bounces back. This time, external force plays a greater role. The Federal Reserve holds the key. The expected interest rate cuts could encourage another gathering. A smaller cut than expected could potentially lower Bitcoin.
Traders accumulate as Bitcoin approaches Fibonacci support
If you fall below $75,000, you’ll be invited to a stronger sale. The Bulls must adhere to that level to avoid deeper losses. The institution’s funds also have in-game skins. Bitcoin-linked ETFs provide stability, but also increase the market impact. These funds hope that Bitcoin will rise over time, not collapse. Long-term investors see opportunities and continue to buy.
Averaging dollar costs is my favorite strategy. Bitcoin is currently trading near the 50% Fibonacci retracement level, a zone known for attracting buyers. Traders are waiting for confirmation. A high strong push gives you more confidence. The sharp drops bring about more fear. The Bulls and Bears are fighting for control now. The next big move could determine the fate of Bitcoin over the coming weeks.
