Friends, after I looked back, $BEAT it turns out that the price has dropped quite drastically. However, this condition can still be considered normal.
As we can see in the picture, there is a red box area which is the order block area and also creates imbalance. This area indicates where buyers often hold the price and significantly reverse the movement, so it can be considered as a strong support.
I filtered that area using Fibonacci, and it appears that this order block coincides just below FIB 0.618 (red line). This means that this area is considered a cheap price area, and currently the price has touched its cheapest area (buyers are expected to start being active again).
It is highly likely that the price will temporarily settle in this area, whether it will continue to drop or reverse up still needs further confirmation.
So if there is an invitation to enter Futures with the assumption that the price will definitely go up, please be careful, as the market direction is still unclear. It is better to wait for confirmation of the trend direction.
I apologize guys for the screenshot being just so-so, what matters is that I hope the analysis can still be understood and beneficial.
Thank you for reading.
This is not an investment invitation, just sharing assumptions and sharing, if there are any analysis mistakes please correct them.
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