BTCUSDT is testing the 0.618 Fibonacci level as resistance in the long-term technical analysis . The 0.618 Fibonacci level is a key resistance level and breaking above it could indicate further upside potential for BTCUSDT . The next resistance level to watch for is at 26743. However, if the price fails to break above the 0.618 Fibonacci level, it could indicate a potential reversal and a move back down towards the support levels.
The Fibonacci retracement levels also show that the next potential support level is at the 0.618 Fibonacci level, specifically at 21689.56. This is a key level of support, as it has been a significant level of support and resistance in the past. However, if the price fails to hold above the 0.618 Fibonacci level, it could indicate a further retracement and a move down towards the next support levels. This could be a good opportunity for buying the dip.
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Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <= 1h structure.
Follow the Shrimp 🦐
The Fibonacci retracement levels also show that the next potential support level is at the 0.618 Fibonacci level, specifically at 21689.56. This is a key level of support, as it has been a significant level of support and resistance in the past. However, if the price fails to hold above the 0.618 Fibonacci level, it could indicate a further retracement and a move down towards the next support levels. This could be a good opportunity for buying the dip.
–––––
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <= 1h structure.
Follow the Shrimp 🦐
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