Is BTC finally BULLISH?!

27 Jun 2023 · 1 min

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In this segment from The Art Of Crypto’s YouTube video, the presenter conducts a technical analysis of Bitcoin (BTC) to assess whether the market is turning bullish. He notes that the daily candle closed just above a prior swing high, signaling a ‘change of character’ that suggests market makers are pushing prices higher. A bullish order block is identified, and a Fibonacci retracement drawn from the swing low to swing high places the 0.618 level squarely within this order block. Zooming into the 4‑hour chart, the same alignment is observed, leading the analyst to define an optimal entry range between $25,600 and $25,400. He projects a short‑term target around $27,270 for the week, based on the observed price action and technical levels.

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 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.