Here's what we can expect next for Bitcoin
Hey folks,
The aim of this analysis is to provide you a daily snapshot of what has happened from a price action perspective. (storytelling of buyer/seller sentiment)
From that perspective, I will also share my opinion on what can happen next and what to lookout for.
I will be uploading a video rundown of my analysis on YouTube (link below). Do check it out for more detailed insights.
In short summary:
Stay safe and invest wisely my friends!
**Please note that this is my personal opinion and does not constitute as financial advice.
The aim of this analysis is to provide you a daily snapshot of what has happened from a price action perspective. (storytelling of buyer/seller sentiment)
From that perspective, I will also share my opinion on what can happen next and what to lookout for.
I will be uploading a video rundown of my analysis on YouTube (link below). Do check it out for more detailed insights.
In short summary:
- Daily price action remains above 0.5 FIB Retracement level, while consolidating sideway. Over time, this can slowly turn into a bullish spring that results to steep climb towards 50000.
- However when I reviewed micro price action (hourly timeframe), it seems that intraday market sentiment (retail) remains bearish .
- Hourly Order Block can be observed at 48400 level, but wasn't able to clear off all sell orders, resulting to supply>demand and dip in price.
- Considering all factors, I have plotted sensitive zone at 46500~47100. This is an area of confluence with higher probability of successful rebound. We should keep a close tab on how buyers & sellers will act at this level.
Stay safe and invest wisely my friends!
**Please note that this is my personal opinion and does not constitute as financial advice.
YouTube Channel: TraderDex
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