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Just took a look at the charts — Bitcoin is really struggling with resistance. The rally from earlier this week is now stuck just below 81K after briefly surpassing 82K. That looks like a classic short squeeze, not genuine bullish momentum.
What confuses me: The Fibonacci numbers indicate classic bear market patterns. The 61.8% retracement and the 50-day moving average are exactly where sellers are lurking. Technicians say that recovery tends to stall at these Fibonacci levels — typical for bear markets. Bitcoin has risen nearly 3% in 7 days, but Ethereum is down 0.19%, and Dogecoin even down 0.53%. That’s not convincing.
The macro environment worries me even more. The war in the Middle East, oil prices, a stronger dollar — these are not conditions that support a crypto rally. The 70K level is now the first support. If it breaks, it’s likely to drop back to 64K. Solana and BNB are performing better (+13.5% and +5.5%), but that’s not enough to lift the market.
The Fibonacci numbers simply show: We’re not out of the woods yet. Until the bulls really prove themselves, I remain cautious.