Bitcoin The Perfect Buy Level

If the market can't reach 5000.00 level and break above it, we'll have to think about a new correction wave. If we get a reversal chart or candlestick pattern near 4900.00 - 5000.00 resistance levels, it will be a solid signal for price reversal. We'll have to be ready to see downward movement to lower support zones. Let's look at the daily chart and spot the most interesting zone for buying. Simple Moving Averages will be good as support lines. But if we add Fib Retracement grid, we'll see a possible reversal zone between 37000.00 and 3000.00 levels. It will be good for getting buy signals and opening long trades based on confirmed reversal signals. But the perfect buy levels will be in the zone formed by SMA100, 3000.00 support level and 0.618 Fib level. The perfect long trades will be opened here. It will be a good starting point for a new impulse wave in the direction of the main uptrend and new market highs.