BTC/USD: Potential Reversal Zone with SMC & Fibonacci Confluence

BTC/USD: Potential Reversal Zone with SMC and Fibonacci Confluence
Analysis:

The chart shows the BTC/USD pair on a 4-hour timeframe, with several key indicators and annotations that suggest potential trading opportunities. The chart includes Break of Structure (BOS), Change of Character (CHoCH), Fibonacci retracement levels, and volume profile.

Break of Structure (BOS) and Change of Character (CHoCH):

Multiple BOS and CHoCH points are marked, indicating significant shifts in market structure. The latest BOS is to the downside, suggesting bearish momentum.

Fibonacci Retracement Levels:

The Fibonacci retracement levels are drawn from the recent high to the recent low. Key levels include 0.382 (92788.076), 0.5 (93274), 0.618 (93755.742), and 0.786 (94451.748).

Volume Profile:

The volume profile shows significant trading activity around the 96,486 and 99,800 levels, indicating strong resistance zones.

Relative Strength Index (RSI):

The RSI is currently at 47.96, suggesting neutral momentum but with a slight bearish bias as it is below 50.

Buy Strategy:
Entry: Consider buying if the price breaks above the 0.618 Fibonacci level (93755.742) with strong volume.

Take Profit 1 (TP1): 96,486 (approximately 873 pips)
Take Profit 2 (TP2): 99,800 (approximately 2044 pips)
Stop Loss (SL): 92,788 (approximately 467 pips)

Sell Strategy:
Entry: Consider selling if the price fails to break above the 0.618 Fibonacci level (93755.742) and shows a bearish reversal pattern.

Take Profit 1 (TP1): 92,118 (approximately 563 pips)
Take Profit 2 (TP2): 91,315 (approximately 644 pips)
Stop Loss (SL): 94,361 (approximately 160 pips)

VIP Signal:
Buy Signal: Entry: 93755.742, TP1: 96,486 (873 pips), TP2: 99,800 (2044 pips), SL: 92,788 (467 pips)
Sell Signal: Entry: 93755.742, TP1: 92,118 (563 pips), TP2: 91,315 (644 pips), SL: 94,361 (160 pips)
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This comprehensive analysis uses Price Action, Smart Money Concepts (SMC), and ICT Elliott Wave strategies to provide detailed buy and sell strategies. The identified levels offer optimal entry and exit points for traders.

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Alex Gold Hunter

Free Signals & analysis
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