Bitcoin (BTC) hovered near $118,348 on Sunday, up 0.39% in 24 hours, as two analysts outlined paths that could test traders’ nerves: a dip toward $108K–$112K or a drawn-out range with room for altcoins.
Lark Davis argues that if bitcoin continues to slide, the most likely landing zone is $108,000–$112,000. That range served as a ceiling earlier this year when bitcoin’s rally stalled, and in market psychology, levels that once blocked price often flip into support when revisited.
He emphasizes that this area also aligns with two classic pullback checkpoints known as the 50% and 61.8% Fibonacci retracements. These measures, drawn from the size of bitcoin’s last rally, are widely watched because they often mark where profit-taking slows and new buying emerges. While Fibonacci ratios sound mathematical, in practice they work as self-fulfilling markers since many traders plan entries there.
Davis also points to the 20-week exponential moving average, a trend line that updates quic
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