Evening Traders,
Today’s analysis – BTCUSD- trading within a clear range where a partial decline will be bullish,
Points to consider,
Price Action Impulsive
- Local S/R Support
- (.50 Fibonacci Confluence)
- Weekly S/R Objective
- Oscillators Extended
BTCUSD’s immediate price action is impulsive, trading above its Local S/R zones that is in technical confluence with the .50 Fibonacci – allowing for a short term bullish bias.
The Weekly S/R is current objective, exceeding this level will increase the probability of a trend continuation.
Both oscillators are trading in their respective bearish control zones, remaining in these oversold condition increases the probability of a bounce.
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,
‘’No one strategy is correct all the time’’.- John Paulson
Today’s analysis – BTCUSD- trading within a clear range where a partial decline will be bullish,
Points to consider,
Price Action Impulsive
- Local S/R Support
- (.50 Fibonacci Confluence)
- Weekly S/R Objective
- Oscillators Extended
BTCUSD’s immediate price action is impulsive, trading above its Local S/R zones that is in technical confluence with the .50 Fibonacci – allowing for a short term bullish bias.
The Weekly S/R is current objective, exceeding this level will increase the probability of a trend continuation.
Both oscillators are trading in their respective bearish control zones, remaining in these oversold condition increases the probability of a bounce.
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,
‘’No one strategy is correct all the time’’.- John Paulson
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Claim $1000 Deposit Bonus 🎁
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Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
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 ⚔️
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.