Bitcoin just bounced right off that 61.8% Fibonacci retracement—textbook stuff. The descending trendline? Broken upward. But here's the thing: we're not out of the woods yet.

The real test sits at $94,178. Price needs to punch through and hold above that level before we can confidently say the bullish path (white scenario) is in motion.

As it stands now, the alternative outlook (yellow scenario) is still very much alive. Below $94,178, caution remains warranted. Above it? That's when things get interesting.