Omkar Godbole identifies key Fibonacci resistance at $122,056 and a critical support at $111,982 that may trigger a decline toward $100,000 as US inflation data approaches.
BlockBeats reports that Coindesk analyst Omkar Godbole observed a slowdown in Bitcoin’s upward momentum after the price failed to breach the key Fibonacci level at $122,056. The report highlights a double top pattern, with a crucial neckline at $111,982 serving as support; a break below this level could push Bitcoin’s value toward $100,000 amid upcoming US inflation data.