analysis
BTC/USDT/PERPETUAL/BINANCE
15m time frame
In this time frame, the price has been able to break its short-term downward trend line and undergo a kinetic movement up to the ceiling of the drawn channel, i.e. the resistance zone.
$16,665
have And after hitting this level, it has entered its corrective phase.
According to the drawn Fibonacci retracement, the price is at the 0.382 Fibonacci level, first we will expect the price to move up to the middle of its ascending channel, and then by crossing the bottom of the channel with a valid candle and stabilizing below it, we will expect a corrective movement to the middle The channel below itself, i.e., the 0.618 Fibonacci retracement level, then perform its corrective process until the bottom of the channel, i.e., the 0.786 Fibonacci retracement level.
Price targets:
$16,534 - $16,454 - $16,395
GOOD LUCK
BTC/USDT/PERPETUAL/BINANCE
15m time frame
In this time frame, the price has been able to break its short-term downward trend line and undergo a kinetic movement up to the ceiling of the drawn channel, i.e. the resistance zone.
$16,665
have And after hitting this level, it has entered its corrective phase.
According to the drawn Fibonacci retracement, the price is at the 0.382 Fibonacci level, first we will expect the price to move up to the middle of its ascending channel, and then by crossing the bottom of the channel with a valid candle and stabilizing below it, we will expect a corrective movement to the middle The channel below itself, i.e., the 0.618 Fibonacci retracement level, then perform its corrective process until the bottom of the channel, i.e., the 0.786 Fibonacci retracement level.
Price targets:
$16,534 - $16,454 - $16,395
GOOD LUCK