In this BTCUSDT 4-hour chart analysis on Bybit, we see price action reaching a crucial decision point. Key Fibonacci retracement levels, a Fair Value Gap (FVG), and the Golden Pocket zone indicate potential movements ahead. Will BTC break down, retrace to fill the imbalance, or rally toward the golden pocket? Let’s analyze the key levels.
Key Observations:
🔹 Golden Pocket Resistance: The highlighted yellow zone marks the 0.618 - 0.65 Fibonacci retracement of the greater downtrend, a well-known high-probability reversal area. If BTC reaches this level, we could see strong resistance.
🔹 Fair Value Gap (FVG): The blue zone represents an unfilled imbalance left behind during the recent downward move. If BTC retraces, it could fill this gap before deciding on the next direction.
🔹 0.618 - 0.65 Fib Support: The price is currently hovering near a local golden pocket support area. A strong reaction here could trigger a bullish move. However, failure to hold this level could send BTC lower.
Potential Scenarios:
1️⃣ Bullish Breakout: BTC bounces from the current level, fills the FVG, and continues upward to test the golden pocket resistance. A breakout above this zone could confirm a bullish trend shift.
2️⃣ Short-Term FVG Fill & Rejection: BTC moves up to fill the FVG but faces selling pressure, leading to another bearish move before a larger decision point.
3️⃣ Bearish Breakdown: BTC fails to hold the local support and breaks downward, continuing the broader downtrend toward lower liquidity zones.
What’s Your Prediction?
Which scenario do you think is most likely—1️⃣ Bullish Breakout, 2️⃣ FVG Fill & Rejection, or 3️⃣ Bearish Breakdown? Comment below and let’s discuss! 🚀📉📊
Key Observations:
🔹 Golden Pocket Resistance: The highlighted yellow zone marks the 0.618 - 0.65 Fibonacci retracement of the greater downtrend, a well-known high-probability reversal area. If BTC reaches this level, we could see strong resistance.
🔹 Fair Value Gap (FVG): The blue zone represents an unfilled imbalance left behind during the recent downward move. If BTC retraces, it could fill this gap before deciding on the next direction.
🔹 0.618 - 0.65 Fib Support: The price is currently hovering near a local golden pocket support area. A strong reaction here could trigger a bullish move. However, failure to hold this level could send BTC lower.
Potential Scenarios:
1️⃣ Bullish Breakout: BTC bounces from the current level, fills the FVG, and continues upward to test the golden pocket resistance. A breakout above this zone could confirm a bullish trend shift.
2️⃣ Short-Term FVG Fill & Rejection: BTC moves up to fill the FVG but faces selling pressure, leading to another bearish move before a larger decision point.
3️⃣ Bearish Breakdown: BTC fails to hold the local support and breaks downward, continuing the broader downtrend toward lower liquidity zones.
What’s Your Prediction?
Which scenario do you think is most likely—1️⃣ Bullish Breakout, 2️⃣ FVG Fill & Rejection, or 3️⃣ Bearish Breakdown? Comment below and let’s discuss! 🚀📉📊
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It skimmed the golden pocket! A bounce up or not?
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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.