On the chart, we see a confirmed upward structure forming on the 2-hour timeframe. I will be looking for an entry point from one of the FWG in the OTE zone based on the Fibonacci retracement from the last move and after a break on the 5-minute chart. The nearest target will be the update of the local high, and the next target will be the 4-hour FTA.
BTC has entered the order block testing zone at the local low, but I don’t yet see any confirming factors for longs. First of all, there is a lot of liquidity accumulated under 56600. The local structure remains short. Since the last rise, we haven’t even tested the 0.5 Fibonacci zone (which is just below the local low). The RSI divergence is not considered valid...
