👀💥Attention: Daily Analysis 🗣️ $BTC
⚠️Warning: the following content is for exclusive use at your own risk, it is not advice for buying or selling any asset. Handle your own risk and capital and create your own analysis.
That said... let me ask you; Do we have it clear or not yet?
Let's get to the point at once.
Analyzing the 4-hour BTC chart, we can observe a strong final bearish impulse that occurred on November 11 and changes direction on the 21st of the same month.
Starting from this, we need to calculate the compensation for that last drop.
When we apply the Fibonacci retracement, we have a retracement of 0.5 and evidently, the probability indicates reaching its maximum of 0.618 corresponding to 2/3 of correction from the maximum value and therefore 1/3 of compensation in favor from the base price of the impulse.
With this, we have a starting point to analyze the most immediate and probable outlook.
Now, let’s contrast it in a closer fractal like the 1 Hour and analyze the minor trend or better known as price correction.
That break at $80,600 gives us a momentary bullish impulse,
upon measuring the first impulse, we see how it rises to 93k and then drops again to 83k. At that point, it was giving a retracement of a little more than 2/3, we can apply a Fibonacci Extension and determine how far this minor trend could go, so that it completes its correction of the major trend.
For the extension, the important values are 1 - 1.618.
If we stop for a moment where the correction of the major trend crosses with the minor, it is the area that is perfectly marked by the liquidation heat map (Accumulated over 2 weeks), this shows us how the price moves to areas of high liquidity. Those orders are likely sales and short positions so, upon touching those areas, the reaction could lead to the bearish trend.
So far for today’s gamble. Greetings!!😎
#BinanceBlockchainWeek #AnalisisBTC
