In today's Bitcoin analysis, I am waiting for a price retest on the 1H FVG indicated in the charts.

While looking at the higher timeframes of BTCUSD, these are the candlesticks patterns respectively:

Daily Candle (Previous Close): Green Long Lower Shadow

Bulls managed to closed yesterday's candle in green. The Weekly FVG was held so far.

My intraday trading plan is to long the pullback towards the 1H FVG, setting stop loss just below yesterday's swing low. I assume that once the Weekly FVG is completely re-traced or overlapped, price might tank towards the next Monthly FVG.

However, if price holds in the 1H FVG area, I am looking to target the 4H FVG for a 3.84 risk:reward setup.

Bitcoin Intraday Analysis and Trading Plan For January 24, 2024

Jan 24 2024

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