- BTC retests 100 EMA, mirroring August 2024’s local bottom setup.
- Traders eye $86,000 resistance, with potential rallies or breakdowns ahead.
- Institutions accumulate Bitcoin, while Federal Reserve policy influences market direction.
Bitcoin —BTC, is at a criticial level after losing 50% of the last big rally. The 100-day EMA on the 3-day chart now acts as support, just like in August 2024. That level marked a local bottom back then. Traders wonder if the same pattern will unfold again. Bulls are fighting to regain momentum, but uncertainty lingers. Meanwhile, institutions and long-term holders quietly buy more Bitcoin, preparing for the next big move.
https://x.com/Washigorira/status/1899406090040644016
Bitcoin Bounces Amid Resistance
Tuesday’s early sell-off had traders on edge, but Bitcoin rebounded with force. Buyers stepped in, driving prices higher. The next major target sits near the 200-day EMA at $86,000. Breaking above that level would shift momentum toward $90,000. Fear still grips financial markets, keeping traders cautious. Bitcoin has a habit of dropping 15% before bouncing back. This time, external forces play a bigger role. The Federal Reserve holds the key. Expected interest rate cuts could fuel another rally. Fewer cuts than expected might send Bitcoin lower.
Traders Accumulate as Bitcoin Holds Near Fibonacci Support
A drop below $75,000 would invite stronger selling. Bulls must defend that level to avoid deeper losses. Institutional funds also have skin in the game. ETFs linked to Bitcoin bring stability but also increase market influence. These funds want Bitcoin to rise over time, not collapse. Long-term investors see an opportunity and keep buying.
Dollar-cost averaging remains a favorite strategy. Bitcoin now trades near the 50% Fibonacci retracement level, a zone known for attracting buyers. Traders are waiting for confirmation. A strong push higher would bring more confidence. A sharp drop would invite more fear. Bulls and bears now fight for control. The next big move could decide Bitcoin’s fate for weeks to come.
