BTC/USD — Expansion to POI 1 Before Macro Correction to $57,000
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Technical Setup (4H Timeframe):
Phase 1 (Upward Expansion): Expecting a local continuation towards POI 1 ($67,500 – $68,000), which aligns with the upper 1.414 – 1.618 Fibonacci extension zone.
Phase 2 (Distribution & Correction): After reaching POI 1, I expect local consolidation followed by a structural reversal and a drop towards POI 2.
Phase 3 (Main Target): Macro downside target sits at the lower 1.618 Fibonacci level around $57,000.
Key Levels:
POI 1 (Upper Target): $67,500 – $68,000 (1.414 – 1.618 Fib)
POI 2 (Main Downside Target / Fix 100%): ~$57,000 (1.618 Fib)
Idea Invalidation: Structural breach below ~$62,300