BitcoinShort
BTCUSD Price Analysis with Fibonacci Levels, Gann Fan, and Pitch
Market Snapshot:
Current Price: 68,334.3
200-day Moving Average (MA): 69,222.21
MACD Indicators:
MACD Line: 2,668.46
Signal Line: 2,330.23
Histogram: 862.21
Relative Strength Index (RSI): 34.75 (close to oversold territory)
Key Fibonacci Levels within the 1.618 Algorithm Framework:
BTCUSD recently touched the 0% Fibonacci level (73,417.84) and began a downward reversal. Key Fibonacci levels identified by the 1.618 Law of Attraction algorithm are as follows:
0% Level: 73,417.84 🔽 (recent resistance)
23.6% Level: 65,241.30 🔼
38.2% Level: 60,182.93 🔼
50% Level: 56,094.66 🔼
61.8% Level: 52,006.39 🔼
100% Key Level: 38,771.48 🔼
1.618 Extension Level: 94,829.29 🔽
These Fibonacci levels act as significant markers where price could consolidate, reverse, or gain momentum. Given BTCUSD’s recent downward movement, it’s approaching the 23.6% level at 65,241.30, a point of interest for potential support.
Gann Fan Analysis:
The Gann Fan, configured for BTCUSD’s current price action, highlights both uptrend and downtrend boundaries. BTCUSD remains in a downtrend zone but has tested key fan lines:
Downtrend Zone: BTCUSD’s movement below this fan line aligns with a cautious outlook.
Potential Next Uptrend Zone: Should BTCUSD hold its position and move upward, crossing the upper downtrend fan line could indicate a trend shift.
Pitchfork Analysis:
BTCUSD recently touched the top of the Pitchfork channel, showing possible resistance at this point:
Next Uptrend Threshold: The next upward level near 23.6% (65,241.30) aligns with the Pitchfork’s upper channel boundary. Breaking above this level may shift BTCUSD into a more pronounced uptrend.
Reversal Watch: If BTCUSD loses momentum, it may pull back to the Pitchfork’s midline or lower bounds, potentially moving towards 38.2% (60,182.93) or 50% (56,094.66) Fibonacci levels.
High Volatility Alert:
The market has exceeded its ATR threshold, indicating elevated volatility. This suggests that price movements may be more rapid or unpredictable in the short term.
📊 Summary: BTCUSD’s interaction with these Fibonacci, Gann, and Pitchfork levels reflects the dynamic balance of support and resistance zones. The 1.618 Law of Attraction algorithm emphasizes these Fibonacci levels as points to watch for potential price shifts. Close monitoring around 23.6% (65,241.30), 61.8% (52,006.39), and 100% (38,771.48) is advised, given BTCUSD’s response to these levels historically.
💡 Disclaimer: This is an educational market analysis and is not financial advice. Always assess market conditions carefully.
Current Price: 68,334.3
200-day Moving Average (MA): 69,222.21
MACD Indicators:
MACD Line: 2,668.46
Signal Line: 2,330.23
Histogram: 862.21
Relative Strength Index (RSI): 34.75 (close to oversold territory)
Key Fibonacci Levels within the 1.618 Algorithm Framework:
BTCUSD recently touched the 0% Fibonacci level (73,417.84) and began a downward reversal. Key Fibonacci levels identified by the 1.618 Law of Attraction algorithm are as follows:
0% Level: 73,417.84 🔽 (recent resistance)
23.6% Level: 65,241.30 🔼
38.2% Level: 60,182.93 🔼
50% Level: 56,094.66 🔼
61.8% Level: 52,006.39 🔼
100% Key Level: 38,771.48 🔼
1.618 Extension Level: 94,829.29 🔽
These Fibonacci levels act as significant markers where price could consolidate, reverse, or gain momentum. Given BTCUSD’s recent downward movement, it’s approaching the 23.6% level at 65,241.30, a point of interest for potential support.
Gann Fan Analysis:
The Gann Fan, configured for BTCUSD’s current price action, highlights both uptrend and downtrend boundaries. BTCUSD remains in a downtrend zone but has tested key fan lines:
Downtrend Zone: BTCUSD’s movement below this fan line aligns with a cautious outlook.
Potential Next Uptrend Zone: Should BTCUSD hold its position and move upward, crossing the upper downtrend fan line could indicate a trend shift.
Pitchfork Analysis:
BTCUSD recently touched the top of the Pitchfork channel, showing possible resistance at this point:
Next Uptrend Threshold: The next upward level near 23.6% (65,241.30) aligns with the Pitchfork’s upper channel boundary. Breaking above this level may shift BTCUSD into a more pronounced uptrend.
Reversal Watch: If BTCUSD loses momentum, it may pull back to the Pitchfork’s midline or lower bounds, potentially moving towards 38.2% (60,182.93) or 50% (56,094.66) Fibonacci levels.
High Volatility Alert:
The market has exceeded its ATR threshold, indicating elevated volatility. This suggests that price movements may be more rapid or unpredictable in the short term.
📊 Summary: BTCUSD’s interaction with these Fibonacci, Gann, and Pitchfork levels reflects the dynamic balance of support and resistance zones. The 1.618 Law of Attraction algorithm emphasizes these Fibonacci levels as points to watch for potential price shifts. Close monitoring around 23.6% (65,241.30), 61.8% (52,006.39), and 100% (38,771.48) is advised, given BTCUSD’s response to these levels historically.
💡 Disclaimer: This is an educational market analysis and is not financial advice. Always assess market conditions carefully.
Note
📈 Supply Zones: [(43223.62, 43227.98), (43324.64, 43325.3), (43375.18, 43379.73), (43775.63, 43781.81), (59821.96, 59828.03), (63072.28, 63074.75), (63143.86, 63154.3), (65489.63, 65493.06), (65988.98, 65991.81), (66534.41, 66539.71), (66715.13, 66719.48), (67739.29, 67744.54), (67872.16, 67880.66)]
📉 Demand Zones: [(41397.99, 41403.32), (42157.99, 42168.48), (60561.12, 60565.06), (60574.96, 60578.91), (60754.93, 60759.74), (61736.42, 61738.82), (62298.84, 62303.79), (63846.15, 63853.0), (64126.34, 64129.38), (64593.43, 64599.76), (66209.41, 66216.87), (66769.53, 66775.49), (67543.35, 67546.22), (68503.01, 68517.11)]
Note
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.
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.