Bitcoin Sitting At A Huge Inflection PointBitcoin / TetherUSBINANCE:BTCUSDTDukesMarketAnalysisKey Fib Support Holding For Now • BTC found buying interest around the 0.618 Fib level near $74,500, with support also lining up with a previous key market level • That confluence helped trigger a strong reaction, showing buyers are still defending major areas aggressively 200-Day EMA Still A Problem • Despite the recent bounce, price was once again rejected from the downward-sloping 200-Day EMA around $83,400 • Until BTC can reclaim and hold above that average, the broader primary trend still leans cautious Momentum Indicators Still Mixed • RSI has now dropped back below 50, showing momentum has weakened again after the recent rally attempt • StochRSI is coming off oversold territory, which could support a short-term bounce if buyers continue stepping in Bigger Structure Still Intact • Since the February lows, BTC has continued producing a medium-term series of higher lows and higher highs • However, the broader bearish structure from the major highs has not been fully negated yet, keeping this area extremely important In Summary Bitcoin is sitting at one of the most important technical areas on the chart right now. The defence of the 0.618 Fib support around $74,500 gave bulls a much-needed reaction, especially with previous support lining up in confluence. However, the rejection from the falling 200-Day EMA continues to remind traders that the larger primary trend has not fully shifted yet. Momentum indicators remain mixed overall, making the next reaction around resistance likely very important for determining whether BTC can rebuild upside momentum again.