hey traders
as u can see, BTC couldnt stablize above the 0.786 fib ext lvl and rejected to the Daily Support area
also BTC formed a descending triangle in 2H TF
and still playing in the bearish parallel channel
we can expect a break down to the Lower Demand zone which confirmed by all-time Fib ext golden Ratio 0.618
if it happen and we go back to the golden Ratio, we can expect another buy pressure. in this case, Bullish H&S will b very Likely for the next moves
also this area confirmed by bullish Harmonic pattern
so . . .
1- All-time Fib ext 0.618
2- All-time dynamic lvl
3- 4H Demand Zone
4- Potential Bullish Harmonic Pattern
5- Potential Bullish H&S Pattern
6- Break out the Bearish parallel channel
all of this strategies make this lvl strong enough for entry
if we go back to the golden ratio and it works as a support area, we can expect another AB CD in higher TF same as the chart
what u think about BTC ?
Share ur chart n leave a comment
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