Technical Analysis: BTC/USDT – after ATH at $106k

After the price reached the 1.14 level of the Fibonacci Retracement, I projected the Fibonacci Expansion to identify potential targets and decision zones.

Context:

The prevailing structure is a well-defined uptrend channel, reflecting a strong and consistent upward momentum.
Statistically, the zone between 1.0 and 1.14 Fibonacci levels often acts as a decision area, where the price tends to consolidate or face resistance before deciding whether to continue the trend or initiate a pullback.
Current Scenario: We are currently in an extended leg within the channel, which significantly increases the probability of a price correction. The marked Pullback Zone (highlighted on the chart) suggests that the price could retrace to test intermediate supports within the channel or revisit previous Fibonacci levels.
FibonacciSupport and ResistanceTrend Lines

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