Is BTC finally BULLISH?!

27 Jun 2023 · 1 min

Watch on YouTube

0:50

In this YouTube commentary, the analyst examines Bitcoin’s daily chart and identifies a bullish shift indicated by a candle closing above the prior swing high, which he labels a “change of character.” He then draws a Fibonacci retracement from the recent swing low to swing high, noting that the 0.618 level aligns with a confirmed daily bullish order block. Zooming into the 4‑hour chart, he confirms the confluence of the 0.618 Fibonacci line and the order block, and proposes an entry range between $25,400 and $25,600 based on price action. The analyst sets a short‑term target of approximately $27,270 for the week, framing the trade as a response to market makers pushing price higher.

Chapters

Let's kick things off with Bitcoin. Recently, you have just gotten a candle body close above this previous swing high, which indicates a change of character. So indicating that the market makers, you know, want to bring the markets higher. Right now, we already have the change of character confirmed, and now all we have to do is identify a potential entry point by drawing a fib from swing low to swing high. And also the fact that you have a bullish order block confirmed over here. Look at where the fib lines up. The 618 just happens to be the middle of this daily bullish order block. So let's zoom in to the 4-hourly chart to see if we can get a better picture of what's going on on the lower time frame. This order block just happens to line up with the 0.618. So I will be looking for an entry anywhere between $25,600 to $25,400. This is going to be the ideal range to enter based on looking at the price action. $27,270 right around this week essentially. So that is going to be the target for this week.