Evening traders,
Today’s analysis – BTCUSDT- trading above is Local S/R allowing for a potential upside move,
Points to consider,
- Price Action Impulsive
- Local S/R Support
- Daily S/R Resistance
- Swing High Objective
- Declining Volume
BTCUSDT’s immediate price action is trading at a local support that has technical confluence with a VWAP S/R, allowing for a short term bullish bias.
The upside swing high is the current objective, exceeding this level will likely lead to a trend continuation.
The volume profile is below average, an influx is highly imminent when testing a key trade location.
Overall, in my opinion, BTCUSDT 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,
“You will never find fulfillment trading the markets if you don’t learn to appreciate and be satisfied with what you already have.” ― Yvan Byeajee
Today’s analysis – BTCUSDT- trading above is Local S/R allowing for a potential upside move,
Points to consider,
- Price Action Impulsive
- Local S/R Support
- Daily S/R Resistance
- Swing High Objective
- Declining Volume
BTCUSDT’s immediate price action is trading at a local support that has technical confluence with a VWAP S/R, allowing for a short term bullish bias.
The upside swing high is the current objective, exceeding this level will likely lead to a trend continuation.
The volume profile is below average, an influx is highly imminent when testing a key trade location.
Overall, in my opinion, BTCUSDT 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,
“You will never find fulfillment trading the markets if you don’t learn to appreciate and be satisfied with what you already have.” ― Yvan Byeajee
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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 ⚔️
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.