Evening Traders,
Today’s analysis – BTCUSD – trading below a key range high where a deviation to the lows is probable,
Points to consider,
- Price action impulsive
- Range high resistance
- Range low support
- Low Volume
BTCUSD’s immediate price action is trading under a key resistance that has rejected price for the time being.
The immediate objective is the local s/r, breaking this level increases the probability of testing the range low.
The current volume is below average, an influx is highly probable when an expansion occurs.
Overall, in my opinion, BTCUSD is in a trading range, price action is to be monitored for rotations.
Hope this analysis helps,
Thank you for following my work
And remember,
“Confidence is not "I will profit on this trade." Confidence is "I will be fine if I don't profit from this trade.”
― Yvan Byeajee
Today’s analysis – BTCUSD – trading below a key range high where a deviation to the lows is probable,
Points to consider,
- Price action impulsive
- Range high resistance
- Range low support
- Low Volume
BTCUSD’s immediate price action is trading under a key resistance that has rejected price for the time being.
The immediate objective is the local s/r, breaking this level increases the probability of testing the range low.
The current volume is below average, an influx is highly probable when an expansion occurs.
Overall, in my opinion, BTCUSD is in a trading range, price action is to be monitored for rotations.
Hope this analysis helps,
Thank you for following my work
And remember,
“Confidence is not "I will profit on this trade." Confidence is "I will be fine if I don't profit from this trade.”
― Yvan Byeajee
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Join the Free Trading Group
Telegram: t.me/freetradingden 🔥
Unlock Blofin Bonuses
Trade with perks & support the community!
blofin.com/invite/alchemisttrader 🎁
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Unlock Blofin Bonuses
Trade with perks & support the community!
blofin.com/invite/alchemisttrader 🎁
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.