BTCUSDt is testing the 0.618 Fibonacci Level
Updated
On the upper chart, the price got a rejection from the monthly resistance on 48100$ and now the price is testing the previous weekly resistance as new support on 0.618 Fibonacci level.
On the 4h timeframe, the price is testing the 0.886 Fibonacci level after a rejection from the 0.618 Fibonacci level
How to approach?
the price needs to hold that level and the next 4h support on 41600-41500.
If the price is going to lose the support, the next valid support is 40k.
Otherwise, if the price is going to have a breakout from the 43700, we could see a retest on the upper dynamic resistance.
According to Plancton's strategy, we can set a nice order
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Keep in mind.
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Follow the Shrimp 🦐
On the 4h timeframe, the price is testing the 0.886 Fibonacci level after a rejection from the 0.618 Fibonacci level
How to approach?
the price needs to hold that level and the next 4h support on 41600-41500.
If the price is going to lose the support, the next valid support is 40k.
Otherwise, if the price is going to have a breakout from the 43700, we could see a retest on the upper dynamic resistance.
According to Plancton's strategy, we can set a nice order
–––––
Keep in mind.
- 🟣 Purple structure -> Monthly structure.
- 🔴 Red structure -> Weekly structure.
- 🔵 Blue structure -> Daily structure.
- 🟡 Yellow structure -> 4h structure.
–––––
Follow the Shrimp 🦐
Comment
The price had a breakout from the weekly support and now it's testing the last 3h support before the daily support on 40kWait for NY opens
Comment
Next valid support is 40kComment
The price is testing 40k as I told you.
5.38% so far
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