On the 3-Hour chart here, we are at a very important juncture. Price is currently sitting on top of the 44EMA, and baseline support. If this support is successfully defended, I expect the price to trade back in the 23-24 range for a bit. A breakout from there would make a new target.
IF breaks the zone strong sell opportunity.
Litecoin looks to be correcting now and we have an area of interest where it would be the best place to buy. Area of interest: -78.6% Fibonacci where the 100EMA converges with the fib Previous structure
There are multiple confluences around the marked level, which are: 1) Previous Structure 2) 200EMA Support 3) Major trendline support A lot of confluences, which would make the area the best place to watch to buy Bitcoin.
From the chart can see that the 0.5 Fibonacci lines up with a previous level where price reacted heavily. It could be that there are a number of orders awaiting there which price needs to collect before moving up.
Price approaching an area where we have multiple confluences: - 100EMA Support - 78.6 Fibonacci - Trendline Support - Structure Wait for buying pressure on a smaller timeframe near the 78.6 Fibonacci.
1st Area: - 100EMA - Flat Triangle Support - Previous Structure 2nd Area: - 200EMA Support - Trendline Support
Strong Buying Zone with retesting it 4 Times .
From Support Can Go Down And Up as well.
Broke the strong support so big move towards selling.
Retested the zone 5 times.
Strong Zone With 4 time Retesting The Zone.
Retesting The Zone Times. Strong Up move Possible.
ON 30 Minutes Time Frame Retested The Zone 3 Times And then Break Down Now-Again coming BAck to that zone so strong Up move Expected.
On 1day,4H, 30 Minutes Timeframe the Strong Buy zone is forming with INDICATORS Backing Up.
Profit Booking can be done when it comes to the zone.
In 1 Day Time Frame Surpassed All-Time High. With Volumes.