BTC to Retrace to Key Fibonacci level after Heavy Selloff

Price experienced a sharp and aggressive selloff and now, after a strong rejection from key level, the market is consolidating, showing early signs of stabilization as sellers begin to lose momentum.

If buyers can defend this area and push price higher, the next logical target lies around the Fibonacci 0.5–0.618 retracement zone, aligning with the 117,000 - 119,000 level, a key area where sellers may step back in.