BTCUSD | 1D | Fibonacci Retracement AnalysisBitcoin vs US DollarPEPPERSTONE:BTCUSDHaris_CoBitcoin is currently trading around the 0.236 Fibonacci level ($61.2K) after bouncing from a strong support near $58K (0 Fib). This area has acted as a key demand zone, where buyers stepped in to defend the recent sell-off. Bullish Scenario 📈 Holding above $58K keeps the short-term recovery intact. A successful breakout above $61.2K (0.236 Fib) could open the path toward: $63.2K (0.382 Fib) $66.3K (0.618 Fib) $68.6K (0.786 Fib) Momentum is still weak, but the RSI is recovering from oversold territory, suggesting that bullish pressure is gradually returning. Bearish Scenario 📉 Failure to reclaim the 0.236 Fib resistance may trigger another rejection. A break below $58K would invalidate the current rebound and could lead to a deeper correction, potentially creating new swing lows. Key Levels 🟢 Support: $58,000 🔴 Resistance: $61,190 | $63,164 | $66,356 | $68,628 Conclusion: BTC is attempting to build a base after a sharp decline. The market remains in a corrective structure until price can reclaim higher Fibonacci levels. Traders should watch for confirmation before anticipating a sustained trend reversal. This is my personal technical analysis and not financial advice. Always manage your risk. #BTC #Bitcoin #BTCUSD #Crypto #TechnicalAnalysis #TradingView #PriceAction #Fibonacci #SupportAndResistance #RiskManagement