#Bitcoin The target of the H&S pattern formed during the recent drop on the daily chart has been reached, and $BTC formed a strong bottom around $85,200, which corresponds to the Fib 0.786 level of the April–October rally. Since the price dipped into this region twice and bounced back sharply, this area appears to be the main support in the mid-term. With the buying momentum from this level, BTC rose above $91,000, which corresponds to the Fib 0.144 level based on the recent downtrend, and is now consolidating sideways around this region. The first significant resistance on continued reactions is at $94,700.

Although short-term exponential averages have recovered somewhat, the main trend is still downward. Even though the price is above the 8-day EMA, unless there are clear closes above the 21-day EMA, it’s too early to consider this move a trend reversal. The Stochastic RSI has re-entered the overbought zone, meaning there is a risk of congestion and a short-term correction in the $91,000–$95,000 band. The critical threshold to the upside is $94,700. If this level is broken with volume, the target is $100,000, followed by $100,630, which corresponds to Fib 0.382, and then the $105,400–$110,000 range.

On the downside, the first support is again $91,000. If this breaks, attention will return to the $85,250 area. If there are daily closes below this level, the price may pull back to the $75,000–$78,000 range.

In summary: The market is currently in a consolidation phase between the $85,000 bottom area and the $95,000–$100,000 resistances. $100,000 remains the most critical threshold for a decisive directional move.