After closing yesterday below $81000K, we have two major FVGs(fair value gaps) left for BTC to revisit. They will very likely be the zones where BTC will find its bottom, and then afterwards begin its journey to a new all time high.
Typically when setting up an entry for an FVG, you would place your order in the middle of the gap, at the 0.5 level, however, since these gaps are fairly large on the 1D timeframe, they've been broken down into Fibonacci levels to aid anyone who wishes to have a precise entry at a price level that may not last for long. The levels I would use more often would be 0.5, 0.618, and 0.886, and 1(the bottom of the FVG) and if you aren't going to be watching your trade it would be best to spread your orders across a few of the levels in both FVGS.
The chart also includes the Fibonacci levels from our previous range, roughly between ~80k-91.5k. If BTC drops, to one of the FVGs and returns to a price above the 0.382 or 0.5 level from our previous range, it could likely mean BTC is finished with its retracement from $108k. This would be further confirmed with abnormally large volume during this period.
If you would like to see more of this type of content, or have suggestions on what I could do next time, please don't hesitate to let me know, this one is a very simple analysis I hope everyone can easily understand and gain value from!
-gdvbz