Will $BTC survive the slip? All eyes on 0.5 Fibonacci and 1D MA100!
The price is retreating towards a critical area at 112 thousand after breaking the MA50 for the first time in two years.
Now, it faces a crucial test at the 100-day moving average, which also coincides with the 0.5 Fibonacci level from the recent upward wave.
The intriguing part? This very level was a rebound point last June, representing the previous higher low within the upward channel.
If maintained, we might witness a new upward wave targeting the Fibonacci extension of 1.5 near 140 thousand.
But if broken? It could open the door for further correction.
Bitcoin is dancing on the edge… Will this be the last bottom before the breakout?
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