Bitcion Pivotal Levels: July 27 - August 02, 2020
Updated
Guys pay attention to the pivot points on the above chart.
Take note of the following:
1. Red line - Weekly Pivot Point ( WPP ) @9758.
2. Purple line - Weekly Pivot Resistance 1 (WPR1) @10387.
3. Black line - Weekly Pivot Support 1 (WPS1) @9315.
It should be noted that the market usually trades pivot points during the period with a probability of around 70-80%. It means that the probability of touching the weekly pivot point by the market during the week is 70-80%.
As at the time of writing, BTC was trading above its Weekly Pivot Point ( WPP ) and price was a few Dollars aware from its WPR1 level.
Again, I need to bring to your notice that BTC market bias has shifted to uptrend on the 4 hours chart during the trading sessions last week.
If price continues to trade upward, BTC will test its WPR1. And if price got rejected at the WPR1 it would trade downwardly to the WPP.
Also, if BTC break the WPP level it will reach WPS1.
I will definitely be shorting and longing BTC this week going forward.
I will love to read your comments on what your thoughts are regarding my idea on BTC , and do show your love by hitting the like button.
Thanks for reading, and may the pips be with you all.
Take note of the following:
1. Red line - Weekly Pivot Point ( WPP ) @9758.
2. Purple line - Weekly Pivot Resistance 1 (WPR1) @10387.
3. Black line - Weekly Pivot Support 1 (WPS1) @9315.
It should be noted that the market usually trades pivot points during the period with a probability of around 70-80%. It means that the probability of touching the weekly pivot point by the market during the week is 70-80%.
As at the time of writing, BTC was trading above its Weekly Pivot Point ( WPP ) and price was a few Dollars aware from its WPR1 level.
Again, I need to bring to your notice that BTC market bias has shifted to uptrend on the 4 hours chart during the trading sessions last week.
If price continues to trade upward, BTC will test its WPR1. And if price got rejected at the WPR1 it would trade downwardly to the WPP.
Also, if BTC break the WPP level it will reach WPS1.
I will definitely be shorting and longing BTC this week going forward.
I will love to read your comments on what your thoughts are regarding my idea on BTC , and do show your love by hitting the like button.
Thanks for reading, and may the pips be with you all.
Trade closed: stop reached
Quick Update: Hello guys! BTC bias turns bullish - that confirmation came rightly during the yesterday trading sessions, as BTC broke through its WPR1 and WPR2 on the 4hrs chart and went as far as testing its MPR2!
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