Breakdown of the Price action! New Month! New Plays! 3/4/24
In today's analysis, we delve into Bitcoin's price action. Our anticipation was high as we awaited Bitcoin's potential retest of the all-time high for a second entry into short positions. However, to our disappointment, that scenario didn't materialize. Instead, we observed distribution at a significant supply zone, resulting in a notable 10% markdown.
The question arises: Could this markdown serve as the retracement necessary for establishing a higher low, propelling us towards the all-time highs? We're closely monitoring the 1-hour zone, which coincides with our Fibonacci zone and the value area low of the entire range. This confluence adds weight to its significance in our analysis.
In trading, absolutes are rare, but we can tilt the odds in our favor by stacking probabilities and executing trades with the highest predictive probability. Our confirmation signals guide us in making informed decisions.
For a detailed breakdown, watch the video. Remember to follow and boost for more insightful content! 📉📈🔍
The question arises: Could this markdown serve as the retracement necessary for establishing a higher low, propelling us towards the all-time highs? We're closely monitoring the 1-hour zone, which coincides with our Fibonacci zone and the value area low of the entire range. This confluence adds weight to its significance in our analysis.
In trading, absolutes are rare, but we can tilt the odds in our favor by stacking probabilities and executing trades with the highest predictive probability. Our confirmation signals guide us in making informed decisions.
For a detailed breakdown, watch the video. Remember to follow and boost for more insightful content! 📉📈🔍