Evening Traders,
Today’s analysis – BTCUSD – trading above its neckline S/R with further upside being imminent
Points to consider,
- Price Action Impulsive
- Neckline S/R Support
- Daily S/R Resistance
- Volume Influx
- Oscillators Bullish Control Zone
BTCUSD’s immediate price action is impulsive, breaking and confirming support with a retest allows for a bullish bias.
The objective is the Daily S/R resistance, exceeding this level will increase the probability of a trend continuation.
Both oscillators are trading in their respective bullish control zones, maintaining this regions is indicative of strength.
The volume profile also shows an influx, indicating a true break, follow through is critical for a trend continuation.
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,
“Your best analysis is done by asking the question, 'Where is the loser?” ― Jason Alan Jankovsky
Today’s analysis – BTCUSD – trading above its neckline S/R with further upside being imminent
Points to consider,
- Price Action Impulsive
- Neckline S/R Support
- Daily S/R Resistance
- Volume Influx
- Oscillators Bullish Control Zone
BTCUSD’s immediate price action is impulsive, breaking and confirming support with a retest allows for a bullish bias.
The objective is the Daily S/R resistance, exceeding this level will increase the probability of a trend continuation.
Both oscillators are trading in their respective bullish control zones, maintaining this regions is indicative of strength.
The volume profile also shows an influx, indicating a true break, follow through is critical for a trend continuation.
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,
“Your best analysis is done by asking the question, 'Where is the loser?” ― Jason Alan Jankovsky
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.
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.