BTCUSD Price Action Channel| .618 Fibonacci| Volume| Trend
Evening Traders,
Today’s analysis – BTCUSD – trading in a local channel where a run of the lows is probable,
Points to consider,
- Price Action Corrective
- .618 Fibonacci Support
- Channel low Support
- Low Volume
BTCUSD’s immediate price action is corrective and is approaching an area that has technical confluence with the .618 Fibonacci and Channel Low support, allowing for a bullish bias.
The current volume profile is below average, an influx is highly imminent when testing a key trade location.
Breaking out of the channel will be indicative of strength, thus in search of liquidity.
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,
Timing, perseverance, and ten years of trying will eventually make you look like an overnight success. – Biz Stone
Today’s analysis – BTCUSD – trading in a local channel where a run of the lows is probable,
Points to consider,
- Price Action Corrective
- .618 Fibonacci Support
- Channel low Support
- Low Volume
BTCUSD’s immediate price action is corrective and is approaching an area that has technical confluence with the .618 Fibonacci and Channel Low support, allowing for a bullish bias.
The current volume profile is below average, an influx is highly imminent when testing a key trade location.
Breaking out of the channel will be indicative of strength, thus in search of liquidity.
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,
Timing, perseverance, and ten years of trying will eventually make you look like an overnight success. – Biz Stone
Join my free telegram! t.me/chartdoctorsanconsultants
Follow me on Twitter! twitter.com/pinkdawn__
Follow me on Twitter! twitter.com/pinkdawn__
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