Guys pay attention to the pivot points on the above chart.
Take note of the following:
1. Red line - Weekly Pivot Point ( WPP ) @9772
2. Purple line - Weekly Pivot Resistance 1 (WPR1) @10407
3. Black line - Weekly Pivot Support 1 (WPS1) @9114
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 tested its Weekly Pivot Point ( WPP ), already.
There is a likelihood that BTC would breakout to test its Weekly Pivot Resistance 1(WPR1), and sellers could take price downward from there.
I recommend taking short entries at the WPR1 price level to target WPP and WPS1.
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 ) @9772
2. Purple line - Weekly Pivot Resistance 1 (WPR1) @10407
3. Black line - Weekly Pivot Support 1 (WPS1) @9114
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 tested its Weekly Pivot Point ( WPP ), already.
There is a likelihood that BTC would breakout to test its Weekly Pivot Resistance 1(WPR1), and sellers could take price downward from there.
I recommend taking short entries at the WPR1 price level to target WPP and WPS1.
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
Short entry activated: BTC seems to have been rejected at the WPP. Targeting WPS1Trade active
Hope you guys were able to add to your short positions above the WPP? I did! Let's see if BTC is able to slide down to the WPS1.Trade closed: target reached
That was very quick, though!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.