BTCUSD 1D – Testing 0.786 Support, But Is This a Real Reversal?

Bitcoin has returned to a major higher-timeframe decision point: the 0.786 Fibonacci retracement, sitting inside a broad demand block that has already produced one sharp wick rejection. This zone combines three powerful confluences — a deep pullback level, prior accumulation structure, and proximity to sweeping lower liquidity from earlier this year.

Price broke structure twice on the way down, showing clear bearish momentum, but the current candle cluster suggests sellers are slowing as demand attempts to step in. A reclaim of the 0.618–0.65 range would signal strength and open the door for a revisit toward the mid-range around 100K. Failure to hold the 0.786, however, exposes the untested liquidity zone near 76.7K — a level that aligns with previous liquidity sweeps.

Stoch RSI is attempting a rebound from oversold territory, hinting at a possible short-term bounce, but trend context remains bearish until a confirmed BOS to the upside forms.
This is a pivotal zone for BTC — the next few daily candles will determine whether this is a macro higher-low or the beginning of a deeper breakdown.