💀 Hey , how's it going ? Come over here — Satoshi got something for you !
⏰ We’re analyzing BTC on the 1-hour timeframe .
👀 After the strengthening of the US dollar , Bitcoin experienced a drop and formed a short-term support bottom around the $113,000 level . It is currently completing a pullback to the levels of this recent decline .
🎮 Our Fibonacci retracement is drawn from the breakout zone to the $112,200 bottom . Bitcoin broke below the 0.236 level and then found support . The best potential entry trigger, based on Fibonacci, is at the 0.382 level, or around $115,000 . If Bitcoin breaks above this level , it could form a higher high and a higher low in this timeframe .
⚙️ The RSI is showing a support level around 32 , which is currently preventing Bitcoin from entering the oversold zone . However , if this support is lost , Bitcoin could move into oversold territory .
📈 Our long position trigger is at the 0.382 Fibonacci level . A confirmed breakout of this level , combined with RSI overbuying and increased volume , would be our entry signal .
📉 Our short position trigger is around $113,000 . If this support breaks , we may open a short position . However, the main short trigger is at the 0 Fibonacci level ( support at $112,200 ) . If selling pressure increases and RSI enters the oversold zone , we will consider entering a short position with confirmation .
❤️ Disclaimer : This analysis is purely based on my personal opinion and I only trade if the stated triggers are activated .
⏰ We’re analyzing BTC on the 1-hour timeframe .
👀 After the strengthening of the US dollar , Bitcoin experienced a drop and formed a short-term support bottom around the $113,000 level . It is currently completing a pullback to the levels of this recent decline .
🎮 Our Fibonacci retracement is drawn from the breakout zone to the $112,200 bottom . Bitcoin broke below the 0.236 level and then found support . The best potential entry trigger, based on Fibonacci, is at the 0.382 level, or around $115,000 . If Bitcoin breaks above this level , it could form a higher high and a higher low in this timeframe .
⚙️ The RSI is showing a support level around 32 , which is currently preventing Bitcoin from entering the oversold zone . However , if this support is lost , Bitcoin could move into oversold territory .
📈 Our long position trigger is at the 0.382 Fibonacci level . A confirmed breakout of this level , combined with RSI overbuying and increased volume , would be our entry signal .
📉 Our short position trigger is around $113,000 . If this support breaks , we may open a short position . However, the main short trigger is at the 0 Fibonacci level ( support at $112,200 ) . If selling pressure increases and RSI enters the oversold zone , we will consider entering a short position with confirmation .
❤️ Disclaimer : This analysis is purely based on my personal opinion and I only trade if the stated triggers are activated .
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t.me/satoshiframetr
t.me/satoshiframetr
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
join our Telegram channel for more insightful and educational content .
t.me/satoshiframetr
t.me/satoshiframetr
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.