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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X Segment 📰 🗞️ 

Trading Psychology  🧠 

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