Bitcoin 4 hour initial move Fib targets.

I posted a Bitcoin post earlier regarding the daily candle close. I also discuss more fundamental things about Bitcoin in that post, this is strictly a trade idea.

This is a 4 hour idea that acts on market structure. Markets only move in three ways. Uptrend, downtrend and a range (and their components-swings (highers lows and lower highs)).

Here we had a downtrend and a range and seems we may make our first higher low in a new uptrend.

These are fib targets to watch for a possible reaction. We cut through the 38.2.

We are currently testing the 50 fib at 8965. 61 fib rests at 8593 (the breakout point where resistance now becomes support).

For targets, look at 11290 and then possibly 12487, which are close to daily flip zones.