The news content discusses the current state of Bitcoin's price action and its potential future trajectory. Bitcoin is shown to be within a corrective channel and forming a double zigzag structure. The golden Fibonacci zone is identified as a critical level of support, with the potential for a retracement to the 61.8% to 78.6% Fibonacci levels. Traders are monitoring these levels for potential reversals or further downside movement. A breakdown below the established red line could indicate increased bearish momentum and lead to further price declines. Currently, Bitcoin is trading at $100,131.94 with a 2.17% drop in 24 hours, and its trajectory will depend on whether it holds support within the golden Fibonacci zone.



Other News from Today