Bitcoin Squeeze Point – Breakout or Breakdown?

Bitcoin is approaching a key inflection zone where the Daily Downtrend Resistance and the Monthly Uptrend Support intersect. This confluence could be setting the stage for a major breakout or breakdown, and the next move could define BTC’s medium-term trend.

🧠 Key Levels to Watch:
Daily Downtrend Resistance (Red) – Price is testing this descending trendline again.

Monthly Uptrend Support (Green) – Strong support held since August 2024.

Fibonacci 0.5 Level (~79.3K) – Acting as mid-zone control point.

Fibonacci 0.618 Golden Zone (~72K) – Strong historical retracement support.

🟦 Bullish Scenario (Blue Arrow):
If BTC breaks above the daily downtrend and holds above the green uptrend line:

Possible target: 110K, aligning with the 1.0 Fibonacci extension.

Would confirm continuation of the larger bullish trend.

🔻 Bearish Scenario (Not drawn but implied):
If BTC breaks down below 79K and the monthly trendline:

Eyes on 72K for a potential bounce at the 0.618 Fib level.

Below that, potential deeper retracement toward the 65K–60K zone.

⏳ Conclusion:
BTC is sitting at a high-confluence zone. This is not the time to chase—wait for confirmation of breakout or breakdown before reacting.