251010 [BTC] Bitcoin Outlook

<Current Overview>

Bitcoin has broken through the 126K range to reach a new high before experiencing a slight decline and undergoing a correction.

• It fell to around the 0.618 Fibonacci retracement level at 119.5K before rebounding and is now consolidating in the 120-121 range.

<Should it decline further>

• A strong support zone exists at the lower end, around the 117-118 range.

• This area overlaps with the Fibonacci 0.5 level at 117.4K, making it a highly robust support zone.

• Should prices fall to this level, it is highly probable that this will mark the bottom.

<If it rises now>

• Bitcoin is already nearing the end of its bull cycle.

• Depending on the level reached during this rally, its duration, and the strength of the upward momentum, it is necessary to observe whether this will be the final surge or if the bull market could continue a little longer.

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