Bitcoin — Pivot High Rejection at 108 388: Structure First

Context

Bitcoin rejected last year’s pivot high at 108 388.
The weekly candle shows a clear reaction at that level.
Price remains inside a daily bearish range between 116 077 and 103 516, with a major volume node near 111 000. We sit in the mid-Fibonacci zone where algorithms love to collect liquidity from impatient traders.

Technical

Order flow indicates sell absorption near the pivot.
Momentum is flat and structure lacks directional conviction.
A weekly close above 108 388 would confirm re-accumulation; a rejection and break below 103 516 would confirm continuation. Until then, midrange trading offers poor reward-to-risk.

Fundamentals

Focus stays on the US-Dollar environment.
Key events this week include GDP advance data, Core PCE inflation, and remarks from Fed speakers. Yields up → stronger USD → pressure on BTC. Yields down → liquidity relief → potential bid in crypto. ETF inflows and stable-coin velocity remain soft, showing defensive liquidity rotation.

Plan

Maintain a neutral-to-bearish bias inside the current range.
Wait for a confirmed weekly close before defining new exposure.
Let structure lead and avoid reactive trades inside noise.

Mindset

This isn’t a market—it's a patience test wearing a Bitcoin logo.
If you feel bored, good. That means you’re finally trading like an adult.