Bitcoin Analysis: Key price zones to watch.

28 Mac 2023

Hello traders.

Bitcoin is showing a sideways momentum for now which is fine and was expected to do so. I've kind of already covered this expected side ways action in my Mar 17 analysis where I said it would clear all the buy and sell side liquidity in the zone of 27K-32k.

Well we never actually reached 32k mark but were close to that.

Now before the Bitcoin price moves up, what I want to see is a nice retracement leg where I can find my entry points.

I've marked two areas to be my point of interest in Bitcoin. First area is between $23800-$24123. Reason is simple. It's the zone sitting at 50% fib levels of the recent expansion from 19k. So it's a bounce back area for me.

The second area where I have my eyes on is 21k-22k price range, as it offers a discounted area to buy Bitcoin. The said zone is also an unmitigated zone and the chances are high for Bitcoin to tap into this area and bounce.

I'm using a 4h timeframe for my analysis and hence it may take time for Bitcoin to shape out the structure that I want to see.