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Bitcoin just bounced hard right off that 50-week EMA while simultaneously testing the lower Bollinger band—double support zone playing out exactly as textbook suggests. What caught my eye? The weekly close managed to hold above the 1.272 log Fibonacci level, confirming it's still functioning as solid support terrain.
Putting these pieces together, I'm leaning toward the idea that this dip lower was merely a headfake—one of those moves designed to shake out weak hands before the real continuation. Could we be looking at the local bottom already? The technicals are certainly hinting at that possibility.
That said, nothing's guaranteed in this game.