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sahbil
Jul 4, 2023 4:29 AM

Potential short opportunity area for BTC Short

Bitcoin / TetherUSBinance

Description

While Bitcoin continues to hold its uptrend channel, I see a potential short opportunity in the near term. Currently, BTC is holding the middle of this channel, and I believe it's possible for it to retest the Fair Value Gap (FVG) at $32,677.

Interestingly, this FVG level also coincides with the 0.5 Fibonacci retracement level, adding further significance to this price point. In the past, Bitcoin has shown a tendency to reject from this value, which could indicate a potential reversal or pullback.
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