▫️Bitcoin price found support around the 61.8% Fibonacci retracement at $106,453 (drawn from the April low of $74,508 to the record high of $126,199) on Saturday and recovered by nearly 4% by Monday. ▫️However, on Tuesday, BTC faced rejection from the 50-day Exponential Moving Average (EMA) at $113,606, declining 2%. ▫️At the time of writing on Wednesday, $BTC trades at around $108,100. ▫️ If BTC continues its correction, it could decline toward the 61.8% Fibonacci retracement at $106,453. ▫️A successful close below this level could extend additional losses toward the October 10 low of $102,000.#
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▫️Bitcoin price found support around the 61.8% Fibonacci retracement at $106,453 (drawn from the April low of $74,508 to the record high of $126,199) on Saturday and recovered by nearly 4% by Monday.
▫️However, on Tuesday, BTC faced rejection from the 50-day Exponential Moving Average (EMA) at $113,606, declining 2%.
▫️At the time of writing on Wednesday, $BTC trades at around $108,100.
▫️ If BTC continues its correction, it could decline toward the 61.8% Fibonacci retracement at $106,453.
▫️A successful close below this level could extend additional losses toward the October 10 low of $102,000.#