Points to consider
Preluding to the chart above, Price Action has had a strong Short-Squeeze into the Weekly S/R that is in technical confluence with the, .618 Fibonacci Retracement. BTCUSD failed to close above this level leading to a Bearish Volatility Expansion, planting yet another Lower High on the chart.
The Local S/R Zone is current resistance as candles are below the level on a closing basis. This shows weakness in the immediate short term allowing for a bearish bias. It is allows important to note that the .382 Fibonacci Retracement is of technical confluence with the Local S/R Zone adding to more resistance.
BTCUSD’s current Swing Low is critical to be held, losing this will greatly increase the probability of testing the lower Daily S/R. This will also confirmed a new Lower Low, Price Action will then have an established Bearish Trend.
Price Action RSI,
Observing the RSI, BTCUSD is at a true pivotal trade location where an impulse in either direction can determine the overall trend. Breaking below the Range-Mid will increase the bearish biased scenario, further downside being probable. Confirming a Retest with an influx will maintain the Bullish Control Zone, indicative of strength in the immediate short term.
Preluding to the chart above, Price Action has had a strong Short-Squeeze into the Weekly S/R that is in technical confluence with the, .618 Fibonacci Retracement. BTCUSD failed to close above this level leading to a Bearish Volatility Expansion, planting yet another Lower High on the chart.
The Local S/R Zone is current resistance as candles are below the level on a closing basis. This shows weakness in the immediate short term allowing for a bearish bias. It is allows important to note that the .382 Fibonacci Retracement is of technical confluence with the Local S/R Zone adding to more resistance.
BTCUSD’s current Swing Low is critical to be held, losing this will greatly increase the probability of testing the lower Daily S/R. This will also confirmed a new Lower Low, Price Action will then have an established Bearish Trend.
Price Action RSI,
Observing the RSI, BTCUSD is at a true pivotal trade location where an impulse in either direction can determine the overall trend. Breaking below the Range-Mid will increase the bearish biased scenario, further downside being probable. Confirming a Retest with an influx will maintain the Bullish Control Zone, indicative of strength in the immediate short term.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.