Evening Traders,
Today’s analysis – BTCUSD- trading below its Weekly S/R where a bearish retest is probable,
Points to consider,
- Price Action Impulsive
- Weekly S/R Resistance
- Range-Mid Objective
- Oscillators Oversold
BTCUSD’s immediate price action is impulsive, trading below its respective Weekly S/R that is in confluence with the POC, this allows for a short-term bearish bias.
The Range-Mid S/R is current support that is in confluence with the .618 Fibonacci, and the 200 MA S/R, a reaction as this level is highly probable.
Both Oscillators are currently oversold, an oversold bounce is likely which will be reflected in price action.
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,
“However, market analysis is not the path to consistent results. It will not solve the trading problems created by lack of confidence, lack of discipline, or improper focus.”
― Mark Douglas
Today’s analysis – BTCUSD- trading below its Weekly S/R where a bearish retest is probable,
Points to consider,
- Price Action Impulsive
- Weekly S/R Resistance
- Range-Mid Objective
- Oscillators Oversold
BTCUSD’s immediate price action is impulsive, trading below its respective Weekly S/R that is in confluence with the POC, this allows for a short-term bearish bias.
The Range-Mid S/R is current support that is in confluence with the .618 Fibonacci, and the 200 MA S/R, a reaction as this level is highly probable.
Both Oscillators are currently oversold, an oversold bounce is likely which will be reflected in price action.
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,
“However, market analysis is not the path to consistent results. It will not solve the trading problems created by lack of confidence, lack of discipline, or improper focus.”
― Mark Douglas
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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 ⚔️
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.