Evening traders,
Today’s analysis – BTCUSDT –trading between two technical levels where a break in either direction is probable,
Points to consider,
- Price Action Impulsive
- Daily S/R Support
- POC Resistance
- VWAP Support
BTCUSDT’s immediate price action is impulsive, trading down towards a key level that has technical confluence with the Daily S/R and the POC, allowing for a bullish bias.
The POC is current resistance, breaking this level will show a sign of strength, below is considered weak.
The RSI is trading in oversold conditions, a reversion to its mean is highly probable once key levels are broken.
Overall, in my opinion, BTCUSDT 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!
“Dangers of watching every tick are twofold: overtrading and increased chances of prematurely liquidating good positions” – Jack Schwager
Today’s analysis – BTCUSDT –trading between two technical levels where a break in either direction is probable,
Points to consider,
- Price Action Impulsive
- Daily S/R Support
- POC Resistance
- VWAP Support
BTCUSDT’s immediate price action is impulsive, trading down towards a key level that has technical confluence with the Daily S/R and the POC, allowing for a bullish bias.
The POC is current resistance, breaking this level will show a sign of strength, below is considered weak.
The RSI is trading in oversold conditions, a reversion to its mean is highly probable once key levels are broken.
Overall, in my opinion, BTCUSDT 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!
“Dangers of watching every tick are twofold: overtrading and increased chances of prematurely liquidating good positions” – Jack Schwager
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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.