Evening Traders,
Today’s analysis – BTCUSD – trading at a key trade location where a bullish reaction is probable,
Points to consider,
- Price Action Impulsive
- .618 Fibonacci Support
(Market Structure Support)
- Gartley C Pattern
- Low Volume
BTCUSD’s immediate price action is trading a key trade location where a trend reversal is probable, allowing for a bullish bias.
The market structure support is being tested currently, holding this level is critical for a bullish bias.
The current volume profile is below average, an influx is highly imminent 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.
Hope this analysis helps,
Thank you for following my work
And remember,
“There is a huge difference between a good trade and good trading.” – Steve Burns
Today’s analysis – BTCUSD – trading at a key trade location where a bullish reaction is probable,
Points to consider,
- Price Action Impulsive
- .618 Fibonacci Support
(Market Structure Support)
- Gartley C Pattern
- Low Volume
BTCUSD’s immediate price action is trading a key trade location where a trend reversal is probable, allowing for a bullish bias.
The market structure support is being tested currently, holding this level is critical for a bullish bias.
The current volume profile is below average, an influx is highly imminent 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.
Hope this analysis helps,
Thank you for following my work
And remember,
“There is a huge difference between a good trade and good trading.” – Steve Burns
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Trade with perks & support the community!
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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.