#LINK gave breakout out of the Strong Resistance area and currently retesting it. Price doing it as per out plan and now you can look for buys within that zone here with stops below the H4 swing low.

#BAKE gave a massive jump to the upside hitting our major TP area and other targets. Price made a high of $0.359, which is 126% in profits. I hope you secured major profits over the top.

What is Fibonacci Retracement Tool ?

Fibonacci Retracement is a technical analysis tool used in financial markets to identify potential levels of support and resistance. It is based on the Fibonacci sequence, a mathematical concept where each number is the sum of the two preceding ones. The key Fibonacci retracement levels are derived from ratios based on these numbers, particularly the golden ratio, which is approximately 1.618.

Here are the main Fibonacci retracement levels used in financial markets:

1. 0% (Starting Point): This level represents the beginning of the move and is often labeled as 0%.

2. 23.6%: Derived from the Fibonacci sequence, this level is considered the first level of retracement.

3. 38.2%: This level is another common retracement level, indicating a deeper pullback.

4. 50%: While not a Fibonacci number, the 50% level is widely used and is not part of the Fibonacci sequence. It represents a halfway point and is considered a significant retracement level.

5. 61.8% (Golden Ratio): Also known as the golden ratio, this level is derived from the Fibonacci sequence and is considered a key level of support or resistance.

6. 100% (Starting Point): This level represents a complete retracement of the initial move, essentially bringing the price back to the starting point.

Traders and analysts use Fibonacci retracement levels to identify potential areas where the price of an asset might reverse or consolidate. The idea is that these levels act as psychological and technical levels of interest for market participants.

The process of applying Fibonacci retracement involves identifying a significant price move (swing high to swing low or vice versa) and then plotting the retracement levels on the chart. Traders often use Fibonacci retracement in conjunction with other technical indicators to make more informed trading decisions.

Here's the Analysis of #STX :

#STX is got a strong Rejection From the Major Resistance Zone of $1.20 - $1.23 and also flipped below the strong area of $1.03 - $1.06. Currently, price testing as resistance area, which can lead the price for a downmove. In case price flip the zone, then you can enter into buys targeting major resistance area.

#BITCOIN WEEKLY TF UPDATE :

#BITCOIN on Weekly TF, continues the rally to the upside without a retest and a next resistance zone is at $46,680 - $47,200. Well, Price is expected to reach out there and will see how price action offers after reaction. Daily TF, also kinda consolidation, so have an eye on Breakout.

#ORDI is moving as expected and the price broke below the small uptrend line. There is a high possibility that price test the support area and this is the zone for new entries.

How to Draw Fibonacci Retracement ?

Its very simple to do it and few of the traders have its own way to do it.

The Conventional way to do it is taking the Swing High and Swing Low then Draw and there you go, you got your levels. You an you 50% and 62% as your Potential Retracement areas. Use it as adding confluence with the key level.

Here's the Analysis of #APT :

#APT is been got a rejection from the strong resistance zone of $8.45 - $8.65 and again taking-off the zone to retest it. There's the Strong Support Zone of $6.90 - $7.15, where price could go in case of another Daily Rejection. Alternatively, of price flips above the strong level, then we can see the bullish continuation till next strong resistance area of $9.7 - $9.9.

#Bitcoin made a sweep of liquidity of the previous Higher High and range below the Resistance too. Price gave a sharp down, which was already mentioned and expected normally. Price straightaway moved into Major Support Zone of $40,800 - $42,000 and below it. Well, the momentum turning bearish and daily closing below $43,300 will create a bearish Market Structure.

#ORDI is been fell down towards the strong support zone and made a strong bounce from it. Price gave around 11% in profits from the top and 15% from the bottom of the zone. Well, candles are printing next to each other shows zero volume. Take the positions off and again buys on retest.

#STX exactly fell from the resistance area with a rejection. In case you short-sell the position then you're in good profits around 20.9%. Hopefully, you secured the major partials at the support zone, which was our buy zone too and it giving the strong rejection too.

Market Experiences Massive Liquidation Worth More Than $400 Million As #Bitcoin Reaches $40,000.

Here's the Analysis of #SAND :

#SAND is been rejected off from the resistance area of $0.580 - $0.587 and currently, melting below the support zone of $0.51 - $0.52. This zone will act as resistance after the closing and give the shorting opportunity till next support zone of $0.450 and lower and the next strong support zone of $0.37 - $0.38.

#Bitcoin made its bearish structure and gave a rejection from the Major Support Zone too. On 4H TF, price making lower lows and have to see if next daily candle closes below the zone too. In case it is, this will reflect the strong bearish sign in the market. Well, its already a rejection happening, so we can trust a little bit.

#BTC.D slips below the support area and also broke below the support around 53.1% - 53.2%. We already warned about this to happen, as #BTC dumped and losing the influence in alts too. Well, its still looks like a same, as it might go through again, and might reach out the support zone of 51.8% - 52.0.

What is Golden Crossover ?

A Golden Crossover is a technical analysis term used in the context of moving averages, particularly in the cryptocurrency trading. It occurs when a short-term moving average crosses above a long-term moving average. The most common Golden Crossover involves the 50-day moving average crossing above the 200-day moving average.

Here's how it works:

1. Short-Term and Long-Term Moving Averages: Moving averages are trend-following indicators that smooth out price data over a specified period. In the context of a Golden Crossover, a short-term moving average (e.g., 50-day) and a long-term moving average (e.g., 200-day) are commonly used.

2. Golden Crossover: The Golden Crossover happens when the short-term moving average crosses above the long-term moving average. This event is considered bullish by traders and analysts.

3. Bullish Signal: The Golden Crossover is interpreted as a bullish signal for the underlying asset, suggesting a potential shift in trend or the beginning of an uptrend. Traders may use this signal to make buy decisions or consider it as a positive indicator for the asset's future price movements.

This graph shows the relative strength of this uptrend is to measure the depth of pullbacks from the most recent local high. The deepest correction in 2023 has been a remarkably shallow -20.1%, standing out as the shallowest of any historical macro uptrend.

The 2016-17 bull market saw regular corrections exceeding -25%, whilst 2019 pulled back from the July-2019 high of $14,000 by over -62%. This suggests a level of underlying demand support in 2023 which aligns with the increasingly tight supply dynamics

#ETH goes exactly as per what we predicted, price sharply rejected from the Resistance at $2,400 and reach the other end of the which is the Strong Support Zone. Price is already did a retest of the zone and potentially there will be a another one before pushing higher. Eyes on Daily break below of the zone.