Bitcoin is currently exhibiting a classic corrective retracement on the lower timeframe, testing a critical decision zone right as price hovers around $78,840.63
Following the sharp impulsive drop down to the $78,031 floor, bulls have managed a steady recovery wave. Price has now pushed directly into the highlighted optimal trade entry (OTE) / resistance zone between the 0.5 and 0.618 retracement levels.
Bearish Scenario: If sellers defend the 0.618–0.786 zone, expect rejection momentum to target a pullback back toward the 0.5 level ($78,713) and lower structural supports.
Bullish Scenario: A decisive 5-minute candle close and sustained consolidation above $78,873 would open up room for a push toward the upper boundary near $79,029.
What are your thoughts on this move? Are you looking for a short entry here or waiting for a breakout? Drop your bias in the comments below!#BTC