#BTC Long Idea

Is #Bitcoin ready to break the legendary 100k mark that everyone is awaiting? Check out the analysis below!

HTF Bias:

1. Price broke the previous daily rejection block / supply zone / structural high,

marked with a purple rectangle, which now means it should hold as a demand

zone for later pullback

1. From the swing low to high, if we trace a fibonacci retracement, we see that price perfectly rejected from the **Golden Zone - 0.618 - 0.768 **(in this case it barely hit 0.618)

2. It bounced back to mitigate supply zone left behind, leaving behind the same

flip zone (supply turning to demand zone), reversed and now it just sweeped the

most recent liquidity, showing clear rejection signs, forming a huge wick

LTF Bias:

1. Now that the HFT is aligned with LTF, all that matters is where we entry the trade

2. Given we already sweeped the most obvious liquidity, this is how I would place my trade

3. Stop loss below the most recent sweep, Take Profit at the 1.236 mark on the Fibonacci Extension tool

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What are your thoughts on this chart? Do you have any #Bitcoin in your wallet?

What are your targets?

Follow for more daily ideas!