$BTC 【Daily and Hourly Chart Comparison】
On the left is yesterday's daily candle, and on the right is yesterday's hourly candle.
Candlesticks are truly fascinating; you'll notice that the actual drop is roughly reflected in the body, while the pullbacks and rebounds are captured in the wicks.
If we apply Fibonacci retracement from the high to the low, the bottom right shows a retracement back to 38.2%. Therefore, for the next day, the bearish entry point is something you need to jump on quickly, as this small wave of decline has already completed its retracement.
On the left is yesterday's daily candle, and on the right is yesterday's hourly candle.
Candlesticks are truly fascinating; you'll notice that the actual drop is roughly reflected in the body, while the pullbacks and rebounds are captured in the wicks.
If we apply Fibonacci retracement from the high to the low, the bottom right shows a retracement back to 38.2%. Therefore, for the next day, the bearish entry point is something you need to jump on quickly, as this small wave of decline has already completed its retracement.