Technical Analysis: BTC/USDT – after ATH at $106kAfter the price reached the 1.14 level of the Fibonacci Retracement, I projected the Fibonacci Expansion to identify potential targets and decision zones.
Context:
The prevailing structure is a well-defined uptrend channel, reflecting a strong and consistent upward momentum.
Statistically, the zone between 1.0 and 1.14 Fibonacci levels often acts as a decision area, where the price tends to consolidate or face resistance before deciding whether to continue the trend or initiate a pullback.
Current Scenario: We are currently in an extended leg within the channel, which significantly increases the probability of a price correction. The marked Pullback Zone (highlighted on the chart) suggests that the price could retrace to test intermediate supports within the channel or revisit previous Fibonacci levels.