Guys pay attention to the pivot points on the above chart.
Take note of the following:
1. Red line - Weekly Pivot Point ( WPP ) @9197.
2. Purple line - Weekly Pivot Resistance 1 (WPR1) @9366.
3. Black line - Weekly Pivot Support 1 (WPS1) @9043.
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 has already tested its Weekly Pivot Point ( WPP ) and price is below the WPP level.
If price stabilized below the WPP, and BTC continued to trade downwardly, it would reach the WPS1. On the other hand, if BTC break the WPP upward it would reach WPR1.
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 ) @9197.
2. Purple line - Weekly Pivot Resistance 1 (WPR1) @9366.
3. Black line - Weekly Pivot Support 1 (WPS1) @9043.
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 has already tested its Weekly Pivot Point ( WPP ) and price is below the WPP level.
If price stabilized below the WPP, and BTC continued to trade downwardly, it would reach the WPS1. On the other hand, if BTC break the WPP upward it would reach WPR1.
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.
Trade active:
BTC just tested its WPR1, as expected in our weekly analysis. This level should be a cap for BTC upside movement for now, and we can expect BTC to trade downward to its WPP and WPS1.
