BTC
The price is still in the risk zone (below the 0.375 Fibonacci level).
It needs to recover the yearly open (YO) again to be able to deploy a more secure move to the 0.5 Fibonacci level.
But based on the price's behavior there, we have to be prepared for a continuation until the November open or a pullback to the 0.25 Fibonacci level.
For better confirmation of this, the price will need to consolidate above the 0.5 Fibonacci level to continue rising, or it will need a clear rejection on the daily timeframe to fall again.
If the current scenario moves the price to the 0.25 Fibonacci level, where our stop loss is located, then we will need to see a clear rejection there.
It is very important that the rejection is strong and sends the price back above the yearly open and consolidates,
to have a more reliable confirmation of bullish intent.
Under no circumstances will we buy below the 0.25 Fibonacci retracement level.
That's a potential danger zone and a harbinger of a bear market.
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