BTCUSDT is testing the 0.618 Fibonacci Level
BTC created a double top in 44k exactly on the weekly resistance, and after the rejection, the price lost the daily support on 40500$
on 4h Timeframe, the price lost the dynamic support as well and now the market is testing it as new dynamic resistance on the 0.618 Fibonacci level and Supply Zone.
We could see a new retest of the Supply zone before a new rejection on the previous support around 36k
How to approach?
If the price is going to lose the 36k, we could see another bearish impulse until 34k on the weekly support (key level) The scenario will be invalidated if the price is going to have a clear breakout of 41k
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Follow the Shrimp 🦐
Keep in mind.
on 4h Timeframe, the price lost the dynamic support as well and now the market is testing it as new dynamic resistance on the 0.618 Fibonacci level and Supply Zone.
We could see a new retest of the Supply zone before a new rejection on the previous support around 36k
How to approach?
If the price is going to lose the 36k, we could see another bearish impulse until 34k on the weekly support (key level) The scenario will be invalidated if the price is going to have a clear breakout of 41k
–––––
Follow the Shrimp 🦐
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
Bình luận:
The price got a rejection from the dynamic resistance and the supply zone, and now the price is testing the 0.618 Fibonacci level, let's see if the price is going to create a new Higher low
Bình luận:
Congrats to everyone, the price got a rejection exactly from our area and made more than 12%.
