Bitcoin is approaching a major Fibonacci confluence resistance zone, located between the 0.382 and 0.5 retracement levels. This zone has previously acted as a strong supply area, where price faced heavy rejection. As BTC moves into this region again, the probability of a fakeout followed by a sharp rejection becomes higher.
A clean rejection from this zone could trigger a mid-cycle correction, offering a potential short setup for traders.
📌 Short Zone:
0.382 → 0.5 Fibonacci area
🎯 Short Targets:
T1 → $72,607.37
T2 → $58,502.88
Stay cautious — this zone could define BTC’s next major move.$BTC
BTCUSDT
Perp
90,300
-1.88%