Guys pay attention to the pivot points on the above chart.
Take note of the following:
1. Red line - Weekly Pivot Point ( WPP ) @10725.
2. Purple line - Weekly Pivot Resistance 1 (WPR1) @11601.
3. Black line - Weekly Pivot Support 1 (WPS1) @9385.
It should be noted that the market usually trades pivot points during the period with a probability of around 70-80%. It means that the probability of touching the weekly pivot point by the market during the week is 70-80%.
As at the time of writing, BTC was trading below its Weekly Pivot Point ( WPP ).
If BTC maintained its bearish bias and continued trading below its WPP , price would target WPS1.
On the other hand; if BTC succeeded to bounce back within the current trading price range, price would target WPP.
I will love to read your comments on what your thoughts are regarding my idea on BTC , and do show your love by hitting the like button.
Thanks for reading, and may the pips be with you all.
Take note of the following:
1. Red line - Weekly Pivot Point ( WPP ) @10725.
2. Purple line - Weekly Pivot Resistance 1 (WPR1) @11601.
3. Black line - Weekly Pivot Support 1 (WPS1) @9385.
It should be noted that the market usually trades pivot points during the period with a probability of around 70-80%. It means that the probability of touching the weekly pivot point by the market during the week is 70-80%.
As at the time of writing, BTC was trading below its Weekly Pivot Point ( WPP ).
If BTC maintained its bearish bias and continued trading below its WPP , price would target WPS1.
On the other hand; if BTC succeeded to bounce back within the current trading price range, price would target WPP.
I will love to read your comments on what your thoughts are regarding my idea on BTC , and do show your love by hitting the like button.
Thanks for reading, and may the pips be with you all.
