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🚨 A brief summary of Bitcoin's movement in the past hours $BTC
The price has sharply dropped to the Fibonacci area of the first wave 0.5 at 86,846.
The decline then extended beyond 0.618 at 83,900, which is currently the most important support area on the daily chart.
The rebound from 0.618 came quickly, indicating active demand in the range of 84–85.5K.
But so far there is no clear confirmation of the end of wave "2" without a close above 88.5K.
📊 Nearby levels to track the movement:
✔️ Basic Support: 85,371$
✔️ Secondary Support: $86,846
✔️ First resistance: 88K
✔️ Pivot Resistance: 90,785$
✅ Positive scenario:
Recovering 88K with a daily close brings the price back to a short-term upward path, making 90.7K a reasonable target.
❌ Negative scenario:
Breaking 85K with a possible daily close may push the price towards 82.8K – 83.5K.
🔁 Simple Summary:
The drop within a natural Fibonacci zone in wave "2"
The price is currently at a balance point that may determine the direction of the coming days.$BTC #SpotETFApprovalUpdates