⬤ Bitcoin’s been stuck in neutral the past couple days, barely moving as weekend trading kept things sleepy. The price is hanging around $90,700 right now, basically treading water after the recent price action. Volatility should pick up once the session gets going.
⬤ The technical picture shows a clean Fibonacci setup from the $80,600 bottom to the $94,800 peak. BTC pulled back to about $89,300, landing right on the 0.382 retracement level—a textbook correction that suggests the drop from $94,800 might actually be done based on Fibonacci principles alone.
⬤ But there’s a catch. Two things haven’t been addressed yet: there’s still a CME gap sitting unfilled between $88,100 and $88,700, and Bitcoin hasn’t come back to properly retest that megaphone resistance line it broke through earlier. As one trader noted, “the lack of activity is largely due to weekend market conditions, although volatility is expected to increase later in the session.” Even with that perfect Fibonacci bounce, BTC might still need to dip lower to fill that gap and check the trendline.
⬤ This matters because Bitcoin’s quiet phases usually come right before things get interesting. We’ve got a completed technical correction sitting alongside unfinished business on the chart. How Bitcoin wraps up the week and whether it bothers filling those remaining levels could shape where the market heads next.
Bitcoin Holds Near $90,700 After Perfect Fibonacci Pullback to 0.382 Level
⬤ Bitcoin’s been stuck in neutral the past couple days, barely moving as weekend trading kept things sleepy. The price is hanging around $90,700 right now, basically treading water after the recent price action. Volatility should pick up once the session gets going.
⬤ The technical picture shows a clean Fibonacci setup from the $80,600 bottom to the $94,800 peak. BTC pulled back to about $89,300, landing right on the 0.382 retracement level—a textbook correction that suggests the drop from $94,800 might actually be done based on Fibonacci principles alone.
⬤ But there’s a catch. Two things haven’t been addressed yet: there’s still a CME gap sitting unfilled between $88,100 and $88,700, and Bitcoin hasn’t come back to properly retest that megaphone resistance line it broke through earlier. As one trader noted, “the lack of activity is largely due to weekend market conditions, although volatility is expected to increase later in the session.” Even with that perfect Fibonacci bounce, BTC might still need to dip lower to fill that gap and check the trendline.
⬤ This matters because Bitcoin’s quiet phases usually come right before things get interesting. We’ve got a completed technical correction sitting alongside unfinished business on the chart. How Bitcoin wraps up the week and whether it bothers filling those remaining levels could shape where the market heads next.