🚀Sauce Revealed: Dominate Bitcoin's Range with These 3/4/24

In today's analysis, we delve into the price action of Bitcoin. Our anticipation was high as we awaited Bitcoin to revisit the all-time high for a potential second entry into short modes. However, to our disappointment, that scenario did not materialize. Instead, we observed distribution at supply, resulting in a 10% markdown. 📉

Now, the question arises: Is this markdown the retracement needed to establish a higher low and propel us towards the all-time highs? 🤔 We're currently observing movement around a 1-hour zone that coincides with our Fibonacci zone and the value area low of the entire range. 📊 When it comes to trading, nothing is ever guaranteed, but we can certainly tilt the odds in our favor by stacking probabilities and executing trades with the highest predictive probability, using confirmations as signals. 🔍

Check out the video for a detailed breakdown, and don't forget to follow and boost for more insights. 🚀 It's evident that we're currently within a 4-hour range, so we'll approach it accordingly. Here are some of my back-tested range models relevant for this scenario:

R1 - Range deflection sweep of the range high
R2 - Range deflection sweep of the range low
R3 and R4 - Internal range reaction from supply and demand

For R1 and R2, I'm looking for a Swing Failure Pattern (SFP) at the prior extremes. For R3, I'm seeking a dip into the zones that results in an aggressive reaction, breaking fractal structure on the decisional leg. Remember, for all these levels, clear market structure change is essential. 🔄 No change, no trade.

Regarding plays 1 and 2, I'd prefer to see a bearish and bullish bar wick, respectively. If we close above the prior extremes, it suggests that we're not simply rotating within this range but potentially breaking out. 📈