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BTCUSD Price Action Apex| Daily S/R| Trend| Volume Evening Traders, Today analysis – BTCUSD- trading in a price action apex where a breakout is imminent, Points to consider, - Price Action Impulsive - Dynmic S/R Support - Daily S/R Resistance - Low Volume BTCUSD’s immediate price action is impulsive trading in an apex where a breakout is imminent – allowing for a long bias. The current Dynamic S/R is support, respecting this level is critical for bullish momentum The current volume profile is below average, an influx is needed for a true breakout 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, “However, market analysis is not the path to consistent results. It will not solve the trading problems created by lack of confidence, lack of discipline, or improper focus.” ― Mark Douglas
BYBIT:BTCUSD.PLong
by AzizKhanZamani
KISS the Channel Pattern I'm new to posting my ideas here. However, after watching the market for quite a while, I believe that simplicity in this market is the best indicator. Keep It Simple, using simple pattern formations like 'Head and Shoulders,' Pennants, Wedges, and Channels will help to determine which direction the market is going from big scale to small scale, depending on whether you're a long-term or short-term trader. Indicators that I use are basically the simplest crowd sentiment indicators, but these are the simplest kind because these markets are directly a result of sentiment. There is nothing else to drive these markets. There are no earnings. There are no profit/loss statements. There's only market cap and sentiment. So if we use the simplest indicators to indicate the sentiment of what's going to happen in this Bitcoin market, we watch Bitcoin moving along in an upwards channel after a consolidation period. You can see another simple pattern forming - a pennant. And if you watch the market closely, you'll notice that the small pennant forming along the inside channel will sort of indicate that consolidation to the lower side of the channel, and this gives you a quick indication as to which way the sentiment on the market is going to go. Watch for this pennant to form and break out to the up or down side of it to give you a quick look at which way the market's going to go over the next day or two.
COINBASE:BTCUSDLong
by frogwraps