$BTC
🚀 BTC's recent rebound was capped near the 50% Fibonacci retracement level at $94,050 ⚠️, indicating that bears have started to take action at high levels, making the rebound not easy.
📉 How will the support below move?
Currently, important support levels are at $87,700 and $84,000.
If $84,000 is lost, caution is needed as BTC may likely retest the low of $80,600 from November 21 😰.
📈 For bulls to turn things around, the conditions are clear!
To regain strength, buyers must push the price above $94,500. Once stable, BTC has the chance to continue attacking the 50-day moving average at $97,000.
⚠️ But don't celebrate too early —
The 50-day moving average up to the psychological level of $100,000 will be an area heavily guarded by bears 💣.
Only if the closing price firmly stands above $100,000 can it be confirmed that the bulls have truly returned, and there is a possibility for the market to accelerate further 🔥.
💡 Summary in one sentence:
👉 $94,500 is the threshold for strengthening
👉 $84,000 is the line of life and death
👉 Only if it stands firm at $100,000 can the bulls be considered to have truly won a round.