BitcoinLong
Anticipating a Bullish Reversal: BTC/USD Hourly Market Analysis
In this chart, I’m analyzing Bitcoin’s price action on the 1-hour timeframe. The key areas I’m focusing on are the break of structure (BoS) zones and a potential price reversal.
Here’s the breakdown:
Break of Structure (BoS):
I’ve marked two significant BoS levels where the market broke previous support levels. This indicates a shift in market sentiment during those moments.
Fair Value Gap (FVG):
The shaded area represents a fair value gap. This often acts as a magnet for price, meaning I’m expecting Bitcoin to fill that gap before moving further.
Bullish Bias:
After the price broke lower and hit a support zone, it’s showing signs of recovery. I’ve drawn a projection showing a potential upward movement. This aligns with the idea that the market might retest key psychological levels, like 94,600, before making a bigger move.
In short, my expectation is for the price to retrace upwards, leveraging these structural insights and liquidity gaps as part of its journey. If the price aligns with this analysis, it could present a solid trading opportunity.
Here’s the breakdown:
Break of Structure (BoS):
I’ve marked two significant BoS levels where the market broke previous support levels. This indicates a shift in market sentiment during those moments.
Fair Value Gap (FVG):
The shaded area represents a fair value gap. This often acts as a magnet for price, meaning I’m expecting Bitcoin to fill that gap before moving further.
Bullish Bias:
After the price broke lower and hit a support zone, it’s showing signs of recovery. I’ve drawn a projection showing a potential upward movement. This aligns with the idea that the market might retest key psychological levels, like 94,600, before making a bigger move.
In short, my expectation is for the price to retrace upwards, leveraging these structural insights and liquidity gaps as part of its journey. If the price aligns with this analysis, it could present a solid trading opportunity.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.