Bitcoin (
BTCUSD) is showing a textbook technical reaction on the Daily Chart, highlighting the precision of classical price action and institutional defense zones.
Following a solid recovery from the recent lows, the asset has run into a major confluence of resistance that has temporarily halted the bullish momentum.
### Key Technical Observations:
* **The 61.8% Fibonacci Retracement:** Drawn from the major swing high to the recent capitulation low. The price precise hit this golden ratio and faced immediate selling pressure.
* **The 200-Period Simple Moving Average (200 SMA):** The purple line is acting as a major dynamic overhead resistance. The fact that the 61.8% Fibo and the 200 SMA converged at the exact same price zone (around the 82k-83k area) made this an incredibly high-probability short-term rejection zone.
* **Trendline Support:** After the rejection, BTC is now drifting lower, but it remains supported by a local ascending trendline (blue support line) established since April.
### Scenario / Strategy:
As a swing/position chartist, I look for key structural levels. The "61.8% FIBO + 200P" zone proved to be an institutional supply wall.
* **Bearish Case:** If Bitcoin breaks below the local ascending trendline, we could see a deeper correction toward the next major horizontal support levels below 75k.
* **Bullish Case:** A sustained breakout and daily close above the 200 SMA / 61.8% Fibo zone would invalidate the bearish structure and open the gates for a powerful rally back toward the psychological 90k-100k targets.
For now, the bears are protecting the 200 SMA wall. Patience is key here.
---
📊 **ProData Chart** | By Rogerio Zaglia
*12+ years of daily global market technical analysis.*
⚠️ **Disclaimer:** This analysis is for educational and informational purposes only. It does not constitute financial advice or an investment recommendation. Past performance is not indicative of future results.
BTCUSD) is showing a textbook technical reaction on the Daily Chart, highlighting the precision of classical price action and institutional defense zones.Following a solid recovery from the recent lows, the asset has run into a major confluence of resistance that has temporarily halted the bullish momentum.
### Key Technical Observations:
* **The 61.8% Fibonacci Retracement:** Drawn from the major swing high to the recent capitulation low. The price precise hit this golden ratio and faced immediate selling pressure.
* **The 200-Period Simple Moving Average (200 SMA):** The purple line is acting as a major dynamic overhead resistance. The fact that the 61.8% Fibo and the 200 SMA converged at the exact same price zone (around the 82k-83k area) made this an incredibly high-probability short-term rejection zone.
* **Trendline Support:** After the rejection, BTC is now drifting lower, but it remains supported by a local ascending trendline (blue support line) established since April.
### Scenario / Strategy:
As a swing/position chartist, I look for key structural levels. The "61.8% FIBO + 200P" zone proved to be an institutional supply wall.
* **Bearish Case:** If Bitcoin breaks below the local ascending trendline, we could see a deeper correction toward the next major horizontal support levels below 75k.
* **Bullish Case:** A sustained breakout and daily close above the 200 SMA / 61.8% Fibo zone would invalidate the bearish structure and open the gates for a powerful rally back toward the psychological 90k-100k targets.
For now, the bears are protecting the 200 SMA wall. Patience is key here.
---
📊 **ProData Chart** | By Rogerio Zaglia
*12+ years of daily global market technical analysis.*
⚠️ **Disclaimer:** This analysis is for educational and informational purposes only. It does not constitute financial advice or an investment recommendation. Past performance is not indicative of future results.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.