Fibonacci

Bitcoin is testing the critical $58,000–$60,000 support zone for a third time, with a break below could trigger a deeper decline.

Bitcoin’s record-breaking week closed at $123,515, with bulls dominating. Fibonacci extensions point to $131,000 as the next resistance, while $118,000 holds as key support.

The Golden Ratio Multiplier, a Bitcoin-specific indicator created by Philip Swift, highlights $100,000 as a critical resistance level. This analysis explores how Fibonacci multiples of the 350-day moving average provide key insights into Bitcoin's price cycles, with $127,000 emerging as the next major target if this barrier is broken.