BTCUSD Analysis
Bitcoin on weekly supply zone resistance, after rejecting from it the first time, obviously bitcoin is at the zone the second time, seeing the momentum weekly candle, Bitcoin might retrace 50% of the momentum candle.
the possibility for bitcoin to take out the weekly supply zone(sell zone) is 50% compare to possibility for Bitcoin to retrace 50% of the momentum candle is 75%.
the best location to trade Bitcoin is at the 50% of the momentum candle to go Bullish in to the weekly supply zone.
Also note that the weekly bias for Bitcoin is bullish (on ascending trend line)
the possibility for bitcoin to take out the weekly supply zone(sell zone) is 50% compare to possibility for Bitcoin to retrace 50% of the momentum candle is 75%.
the best location to trade Bitcoin is at the 50% of the momentum candle to go Bullish in to the weekly supply zone.
Also note that the weekly bias for Bitcoin is bullish (on ascending trend line)
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