BTCUSDT Run Potentially Continuing
Updated
🚀 BTCUSDT Potential Continuation: Bull Flag on 4H & Fair Value Gap with 45.6k Resistance Zone, Weekly 0.618 Fibonacci Pivot, and Order Block.
Technical Analysis:
Bull Flag (4H): Bitcoin is forming a classic bull pennant on the 4-hour chart, suggesting a potential continuation of the uptrend.
Fair Value Gap: A significant gap between the current price and fair value indicates a potential undervaluation.
45.6k Resistance Zone: The 45.6k level, previously a breakdown zone, would act as a key resistance. Watch for price reactions around this level.
Weekly 0.618 Fibonacci Pivot: On the weekly chart, the 0.618 Fibonacci retracement level around 48.6k could act as a notable pivot point, adding another layer of technical significance.
Order Block: An order block has formed on top of the fair value gap, potentially acting as a support level, possibly reinforcing bullish sentiment.
Conclusion:
BTC is displaying a robust technical setup with a 4-hour bull flag, a notable fair value gap, and a key resistance at 45.6k. Additionally, the weekly 0.618 Fibonacci pivot near 48.6k, and order block above the fair value gap enhances the technical landscape. Stay informed, manage risk, and trade responsibly.
🔗 Disclaimer: This analysis is for educational purposes only. Trade at your own risk, and conduct thorough research before making any financial decisions.
Note
This should say PENNANT everywhereNote
Bottom trendline testNote
Bottom trendline test heldNote
Even if the pennant does not hold cleanly, I am looking for a liquidity sweep near the FVG (box in blue)Note
Turning from Pennant to Bullish wedge on the 15 minuteNote
FVG testedNote
So far the FVG is still in play, pennant structure broken.Note
FVG holding
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