Bitcoin’s macro pullback collides with a mid‑range struggle—can the bulls regain momentum?
Bitcoin has likely topped and entered a macro retracement. A head‑and‑shoulders pattern completed, delivering a 162% downside projection. Fibonacci from the bear‑market low places the 0.382 level near $56.7k, 0.5 around $44k, and 0.618 near $35k as key support. The market structure is now bearish. BTC is stuck between the $86‑$88k demand zone and a $96‑$100k supply area plus the 50‑day EMA. Price hovers near $90.3k after repeated rejections. Buyers defend the lower zone, preventing a broader breakdown. A decisive break above $100k would signal a reversal; slipping below $88k could open a decline toward $72‑$76k. A short‑term bounce may target the unfilled fair‑value gap around $98‑$100k before the broader downtrend resumes. The dominant trajectory points to deeper moves toward $70‑$60k supports. Traders should wait for confirmation, stay flexible, and consider multiple scenarios. Patience is essential amid the choppy price action.
