"The weekly 55 EMA at $99,000 provided strong support each time the price lost $100,000 last week. Bulls stepped up at this level, front-running the $96,000 bull market support level. Going forward, bulls will look for the 55 EMA to hold as support after such a large move off of this level last week. As the bulls attempt to barge onward, the 0.382 Fibonacci retracement at $109,400 should provide some resistance."
"Above here, bears will look for the daily point of control at $111,000 on the volume profile to hold back the bulls. Beyond this level, $116,000 sits as a gatekeeper for the bears, as closing above this level will flip bias back over to the bulls. Market structure looks decisively more bullish if the 0.618 Fibonacci retracement at $116,000 can be converted to support."
Bitcoin tested and held support around $99,000–$100,000 multiple times, with buyers preventing daily closes below $100,000 and reclaiming $104,700 after a weekend rally. The weekly 55 EMA near $99,000 acted as a consistent support level, while $96,000 remains bull market support. Immediate resistance sits at the 0.382 Fibonacci retracement near $109,400 and the daily point of control around $111,000. A close above $116,000 (0.618 retracement) would shift bias decisively bullish, with $129,000 as a potential higher target. Market sentiment may be affected by expectations around a US government shutdown resolution. Early-week support to watch is the 0.146 retracement at $102,900.
Read at Bitcoin Magazine
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