From TradingView · · 40s
Bitcoin Demand Zone Rebound Setup
Bitcoin rebounds from key Fibonacci support as buyers push above $80,000.
In brief
Bitcoin rebounds from key Fibonacci support as buyers push above $80,000. Bitcoin price rebounds above $80,000 support after testing $79,200, targeting $81,200. Originally reported by TradingView.
Bitcoin Trading Setup
Bitcoin has been trading within a clear short-term bearish structure, forming lower highs while gradually moving toward a major support region.
Demand Zone Reaction
The current setup focuses on the reaction from the highlighted demand zone around $80,000-$80,070, which aligns closely with the 0.786 Fibonacci retracement and a previously defended support area.
Rebound Targets
After testing lower liquidity near $79,200, buyers stepped in aggressively and pushed price back above the immediate support zone, targeting $81,200, $81,700, and $82,066.
What to remember
Bitcoin price rebounds above $80,000 support after testing $79,200, targeting $81,200.
