On the 3-Hour chart here, we are at a very important juncture. Price is currently sitting on top of the 44EMA, and baseline support. If this support is successfully defended, I expect the price to trade back in the 23-24 range for a bit. A breakout from there would make a new target.
Litecoin looks to be correcting now and we have an area of interest where it would be the best place to buy.
Area of interest:
-78.6% Fibonacci where the 100EMA converges with the fib
There are multiple confluences around the marked level, which are:
1) Previous Structure
2) 200EMA Support
3) Major trendline support
A lot of confluences, which would make the area the best place to watch to buy Bitcoin.
From the chart can see that the 0.5 Fibonacci lines up with a previous level where price reacted heavily. It could be that there are a number of orders awaiting there which price needs to collect before moving up.