Evening Traders,
Todays analysis – BTCUSD – trading above a key Daily level where breaking will be bearish,
Points to consider,
- Price Action Impulsive
- Daily S/R Support
- Bearish Flag Formation
- RSI Bearish
BTCUSD’s immediate price action is impulsive, breaking Daily S/R will allow for a bearish bias.
The current formation is that of a bear flag, follow through to the downside is likely.
The RSI is trading in it bearish control zone, remaining in these regains is indicative of weakness.
Overall, in my opinion, BTCUSD is a valid short with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps
Thank you for following my work
And remember,
“Fear, inherently, is not meant to limit you. Fear is the brain’s way of saying that there is something important for you to overcome.” ― Yvan Byeajee
Todays analysis – BTCUSD – trading above a key Daily level where breaking will be bearish,
Points to consider,
- Price Action Impulsive
- Daily S/R Support
- Bearish Flag Formation
- RSI Bearish
BTCUSD’s immediate price action is impulsive, breaking Daily S/R will allow for a bearish bias.
The current formation is that of a bear flag, follow through to the downside is likely.
The RSI is trading in it bearish control zone, remaining in these regains is indicative of weakness.
Overall, in my opinion, BTCUSD is a valid short with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps
Thank you for following my work
And remember,
“Fear, inherently, is not meant to limit you. Fear is the brain’s way of saying that there is something important for you to overcome.” ― Yvan Byeajee