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- BTCUSDT New High? | .618 Fibonacci| Wick Zone
BTCUSDT New High? | .618 Fibonacci| Wick Zone
Bitcoin has been holding current Support for an extended period of time, this creates liquidity below the level which allows for a bullish bias.
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Today’s report will include:
Updated Technical Analysis
Other key market developments
Market Psychology
Trading Tools
BTCUSDT Long Trade 📈
In Today’s analysis -BTCUSDT- trading at a region with converging Support and Dynamic Resistance, a false break is likely to occure below support for a rise back-up.
Points to consider ✍️
Point of Control Support
Dynamic S/R Resistance
.618 Fibonacci Confluence
Swing High Objective
Bitcoin has been holding current Support for an extended period of time, this creates liquidity below the level which allows for a bullish bias.
This .618 Fibonacci and Value Area Low is a region where price is likely to penetrate for wick type of reaction, this will indicate the presence of bullish strength.
Overall, from Bitcoin Insider’s perspective, BTCUSDT is a valid long with defined risk, price action it to be used upon discretion/ management once entry regions is penetrated . ✍️
Hope this analysis helps.
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