BTC/USD still trading at the down trend on weekly chart
BTC / USD have not reclaim its up trend position even though it have a heavy upwards movement for the last few hours, the pivot point have not be close above as it coincide with Fibonacci retracement level 38.2%.
There are 2 Scenario
1. Price going to 3-4 Kish level buy zone and cumulative for buy orders and will be seeing another possible push. Else if price break below 3K level we will be seeing another buy entry near 1.7 Kish
2. Price hovering around buy zone of 6-7kish to cumulate orders and breaking downtrend line in a month if price unable to close below 6.4k (23.6% fib retracement level) in the next few weeks
There are 2 Scenario
1. Price going to 3-4 Kish level buy zone and cumulative for buy orders and will be seeing another possible push. Else if price break below 3K level we will be seeing another buy entry near 1.7 Kish
2. Price hovering around buy zone of 6-7kish to cumulate orders and breaking downtrend line in a month if price unable to close below 6.4k (23.6% fib retracement level) in the next few weeks
Trade active
the image will be a crucial closing line. when 4H close below. start selling, else we will look for a buy at any retracement price.
Trade active
Price bounce off from a downtrendline have to watch position closely as the bounce still not forceful enough. once price close below 8000 USD will be very steady movement downward for the buy zone or maybe turning to ranging market
"What is Risk, When there is no Reward"
"What is Reward, When there is no Risk"
"What is Reward, When there is no Risk"
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.
"What is Risk, When there is no Reward"
"What is Reward, When there is no Risk"
"What is Reward, When there is no Risk"
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.