16/11/2025
Bitcoin Daily Range
Let me review the current situation.
We saw BTC close below $95,000 for the first time since May 2025.
The market experienced a sell-off in the last four days and stalled at a potential support area around the Fibonacci golden ratio at 0.62 [$94,200].
The same level was a minor support and resistance level during the trading period from February 5th to February 23rd and served as resistance on March 2nd.
The logical area for BTC to hold within that range and rebound is to retest the key support and resistance level of the last six months, namely $100,000.
$100,000 is a round number and should be a psychological level. At the same level, there's an imbalance, and it's natural for BTC to retest there outside of supportive conditions, such as:
- The Death Cross, which has historically been a bottoming signal for BTC [This doesn't necessarily mean it's going to the moon; it could just be a local bottom leading to an uptrend and creating a lower high].
- The MACD is in Extreme Sold territory.
- Furthermore, sentiment is also at Extreme Fear.
