Evening Traders,
Today’s analysis – BTCUSD- trading above key dynamic support where an impulse is probable,
Points to consider,
- Price Action Impulsive
- Local S/R Support
(.382 Fibonacci Confluence)
- Weekly S/R Resistance
- Declining Volume
BTCUSD’s immediate price action is impulsive, sitting above a key technical trade location in confluence with the.382 Fibonacci and Local S/R.
The weekly S/R is immediate objective, exceeding this level will be bullish, increasing the probability of testing highs.
Volume is currently declining, an influx is highly probable when testing key trade locations.
Overall, in my opinion, BTCUSD is a valid long with defined risk, price action is to be used upon discretion/ management.
Today’s analysis – BTCUSD- trading above key dynamic support where an impulse is probable,
Points to consider,
- Price Action Impulsive
- Local S/R Support
(.382 Fibonacci Confluence)
- Weekly S/R Resistance
- Declining Volume
BTCUSD’s immediate price action is impulsive, sitting above a key technical trade location in confluence with the.382 Fibonacci and Local S/R.
The weekly S/R is immediate objective, exceeding this level will be bullish, increasing the probability of testing highs.
Volume is currently declining, an influx is highly probable when testing key trade locations.
Overall, in my opinion, BTCUSD is a valid long with defined risk, price action is to be used upon discretion/ management.
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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!
partner.blofin.com/d/alchemisttrader 🎁
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Unlock Blofin Bonuses
Trade with perks & support the community!
partner.blofin.com/d/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.