📉 Does $BTC need a correction?
After the strong momentum from $62.4K to $79.5K, Bitcoin shows a considerable extension, and the RSI on higher timeframes has reached extreme levels. Even though the trend is still bullish, a correction now would be technically healthy.
Using Fibonacci from $62.416 → $79.575, the zones I’m watching are:
🔹 23.6% → $75.5K — first support
🔹 38.2% → $73.0K — main target for a moderate correction
🔹 50% → $71.0K — key area
🔹 61.8% → $69.0K — deep correction and possible strong buy zone
🎯 My scenario: losing $75.5K would considerably increase the probability of testing $73K. If it also doesn’t hold that level, $71K–$69K would be the next logical range.
⚠️ A correction doesn’t necessarily mean the bullish trend is over. After such a vertical move, it could simply mean unwinding overbought conditions, taking liquidity, and building a new base.
How far do you think BTC will retrace: $75.5K, $73K, or $69K? 👀
#BTC走势分析 #bitcoin #fibonachi #BinanceSquare
After the strong momentum from $62.4K to $79.5K, Bitcoin shows a considerable extension, and the RSI on higher timeframes has reached extreme levels. Even though the trend is still bullish, a correction now would be technically healthy.
Using Fibonacci from $62.416 → $79.575, the zones I’m watching are:
🔹 23.6% → $75.5K — first support
🔹 38.2% → $73.0K — main target for a moderate correction
🔹 50% → $71.0K — key area
🔹 61.8% → $69.0K — deep correction and possible strong buy zone
🎯 My scenario: losing $75.5K would considerably increase the probability of testing $73K. If it also doesn’t hold that level, $71K–$69K would be the next logical range.
⚠️ A correction doesn’t necessarily mean the bullish trend is over. After such a vertical move, it could simply mean unwinding overbought conditions, taking liquidity, and building a new base.
How far do you think BTC will retrace: $75.5K, $73K, or $69K? 👀
#BTC走势分析 #bitcoin #fibonachi #BinanceSquare