Potential mid-to-short-term movements.
Updated
Chart Overview And Daily Chart Context:
The overall market is back in an uptrend, with a potential pullback after reaching $2,700.
A Fibonacci retracement shows us potential buy zones for the continuation of the bullish move.
Key Levels
High: The recent swing high near $2,700 acts as a liquidity zone where buyers got exhausted, and sellers took temporary control.
Mid-Range (Golden Zone): The Fibonacci 0.618 - 0.786 retracement levels suggest where price may retrace to before resuming its upward move. These levels, around $2,650, align with previous consolidation areas.
The retracement into this discount area (lower half of the recent swing) aligns with smart money logic, buy at lower prices for a move back into premium levels.
The market remains bullish in the mid-term as long as price doesn’t break below the 2,600 level, which is a key structural support zone.
The retracement into the Golden Zone is a logical place to anticipate a higher low forming before a continuation to higher levels.
Once the price finds support in the Fibonacci Golden Zone, the next logical movement would be a return toward the $2,700 liquidity zone.
Wait for price to enter the 0.618–0.786 zone and confirm support through bullish price action on lower timeframes, you know I trade M1 mostly, so keep an eye in minds!!
Trade safe!!
The overall market is back in an uptrend, with a potential pullback after reaching $2,700.
A Fibonacci retracement shows us potential buy zones for the continuation of the bullish move.
Key Levels
High: The recent swing high near $2,700 acts as a liquidity zone where buyers got exhausted, and sellers took temporary control.
Mid-Range (Golden Zone): The Fibonacci 0.618 - 0.786 retracement levels suggest where price may retrace to before resuming its upward move. These levels, around $2,650, align with previous consolidation areas.
The retracement into this discount area (lower half of the recent swing) aligns with smart money logic, buy at lower prices for a move back into premium levels.
The market remains bullish in the mid-term as long as price doesn’t break below the 2,600 level, which is a key structural support zone.
The retracement into the Golden Zone is a logical place to anticipate a higher low forming before a continuation to higher levels.
Once the price finds support in the Fibonacci Golden Zone, the next logical movement would be a return toward the $2,700 liquidity zone.
Wait for price to enter the 0.618–0.786 zone and confirm support through bullish price action on lower timeframes, you know I trade M1 mostly, so keep an eye in minds!!
Trade safe!!
Trade active
We just hit the key level, let's watch from here, either we go back for ATH or we drop to 2600 and below...
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