The price action is trading in the upper band of this micro bear flag, key level. Expecting a downward leg to the demand zone, as the ABCD reciprocal (0.382:2.618) is targeting the region.
LTCUSD. Ideal entry is at the 0.382 Fibonacci Level. The Pin Bar close near that level. There was a gap that occurred on July 8, 2021 at 03:00. The gap represented horizontal support resistance level. Price closed in the area of the EMA 10 EMA 20. Price closed below diagonal trend level and retested that diagonal level as new resistance.
Confluence: ...
The week ends with the market on the USD/JPY pair producing a high at 106.692. It approaches the weekly 50% major level of resistance with both a bearish divergence and a bullish convergence on the RSI, a conflicting information that induces us to think about a continuation in the bullish retracement of the previous weekly downtrend, but also keeping in mind that...
Drawing fibo retracement levels from 3900$ and 9950$ levels (which are major levels and support) to the 19900$ (maximum) will results a strong support level in 14000$ and by drawing reverse fibo retracement levels the next target for BTC will be 26000$. With the use of fibo fan and fibo circles, these levels are confirmed and the estimated times can also be concluded.
In the previously analysis, I don't see that the price is continue up in H1 timeframe and I was more enfocous in H4 timeframe. But, now, I don't believe thae Euro/Australian Dollar goes to down. But, we see that EUR/AUD is toward the next resistance in yellow zone in Daily timeframe.
So, the theory that I explain in this xcreenshoot could be to take in noticed...
