Bitcoin Price Forecast Today: Retracement Expected Before Bullish Continuation

Bitcoin analysis : buy entry explain 

 Hello traders and investors, we will forecast Bitcoin today. As you know, the price of Bitcoin has been going up for the past several months, that is, it is bullish. Now the market has been doing a range for the past four to five days.

As you can see in the picture below, the market has broken its structure and stopped at its Fibonacci expansion level of 1.618. Now there are chances that the market, which is the price of Bitcoin, will retrace. After the retracement, the market can reach its demand zone, which is the level of 101,000.

which you can see in the picture as a gray box. From here, there are plenty of chances that the market will continue its bullish trend again, so you can buy from this demand zone.

Confirmation

To buy from our demand zone, we need confirmation in the lower time frame, which can be the H4 time frame or the H1 time frame. If the market structure shifts in the H4 or H1 time frame, then we can go for buy. If not, then if the market does not change its structure, then there are chances of Bitcoin price going down to a support level.