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Fibonacci Extension

BTCUSDT is testing the 0.618 Fibonacci levelThe price is testing the 0.618 Fibonacci level as resistance after the sharp movement. the price could have a rejection from that area after the pullback and got a new bearish impulse. At the moment the market is going to create a new higher low in that area, as you can see on the left, this area is a confluence zone for Bitcoin. How to approach? IF the price is going to have a new rejection from that area, 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 🦐
Short
by InkyGrip
18
BTC tradeI am expecting an third touch of the rising channel which has been traded very respectfully. Trade should be near ~ $37.3k - $37.8k. Confluence for this trade: - Bottom of the channel also a comfirmed 3 touch trendline - Weekly, daily untapped. - .786 Fibonacci (34.3k to 48.3k) - .786 Fibonacci fan (low 33k to high 48.3k) - .2618 Fibonacci extention. - Fibonacci time. - The value area low of the big range. - 2 perfect pitchforks lining up on all the confluence. This all is enough for me for an amazing trade. Stoploss below key level at $36.3k Breaking this level will be very bearish for BTC and we could expect lower 30k. TP1: ~ 39.6K and moving stoploss to breakeven. TP2: ~ 43K TP3: ~ 45k.
Long
by Chahin073
1