Evening Traders,
Today’s analysis – BTCUSD – trading above its Local S/R where holding true will increase the probability of testing upside resistance,
Points to consider,
- Price Action Impulsive
- Local S/R Support
- Range High Resistance
- Low Volume
BTCUSD’s immediate price action is trading above a key support allowing for a short term bullish bias.
The Range High is the current resistance, testing this level is likely to lead to an rejection on the first attempt.
The current volume profile is on a decline, an influx is imminent when testing a key trade location such as range high.
Overall, in my opinion, BTCUSD is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps
Thank you for following my work
And remember,
“The market can stay irrational longer than you can stay solvent.” – John Maynard Keynes
Today’s analysis – BTCUSD – trading above its Local S/R where holding true will increase the probability of testing upside resistance,
Points to consider,
- Price Action Impulsive
- Local S/R Support
- Range High Resistance
- Low Volume
BTCUSD’s immediate price action is trading above a key support allowing for a short term bullish bias.
The Range High is the current resistance, testing this level is likely to lead to an rejection on the first attempt.
The current volume profile is on a decline, an influx is imminent when testing a key trade location such as range high.
Overall, in my opinion, BTCUSD is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps
Thank you for following my work
And remember,
“The market can stay irrational longer than you can stay solvent.” – John Maynard Keynes
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
Join the Free Trading Group
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.