Bitcoin steadied around $118,000, but analysts Lark Davis and Michaël van de Poppe have signaled potential deeper pullbacks. Davis highlighted a retest zone of $108K–$112K if Bitcoin continues its decline, linking this area to past resistance levels which could transform into support. He emphasizes the significance of the 50% and 61.8% Fibonacci retracements and notes the confluence of various technical indicators amplifying the likelihood of support in this range. Conversely, van de Poppe observed that Bitcoin has faced rejection at a key resistance level, suggesting a range-bound consolidation rather than a drastic drop. This consolidation phase could pave the way for a shift in focus towards altcoins, which tend to perform better during Bitcoin's sideways movements. Both analysts concur that while uncertainty exists in the immediate future, the overall bullish market context appears stable.

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