Guys pay attention to the pivot points on the above chart.
Take note of the following:
1. Red line - Weekly Pivot Point ( WPP ) @8638.4
2. Purple line - Weekly Pivot Resistance 1 (WPR1) @9707.9
3. Black line - Weekly Pivot Support 1 (WPS1) @7846.5
Please, start to put these levels into use from Monday 4 May, 2020.
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%.
So, if the price of BTC stands below its Weekly Pivot Point by the time market opens on Monday do not rush to open position.
Allow the price to tend toward the Pivot Point , you will probably get a much better entry point, around this price level.
Recall that, in my idea of Monthly Pivotal levels I did mentioned that BTC price has been overshot as indicated by the two oscillators on my chart. Thus, BTC selloff is inevitable this month.
I recommend short entry to be opened at WPP , or when there's a push towards the 9000 - 9200 price range.
Whichever level you enter, our weekly target is at WPS1.
Don't forget to leave a comment and give a like.
Thanks for reading, and my the pips be with you all.
Take note of the following:
1. Red line - Weekly Pivot Point ( WPP ) @8638.4
2. Purple line - Weekly Pivot Resistance 1 (WPR1) @9707.9
3. Black line - Weekly Pivot Support 1 (WPS1) @7846.5
Please, start to put these levels into use from Monday 4 May, 2020.
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%.
So, if the price of BTC stands below its Weekly Pivot Point by the time market opens on Monday do not rush to open position.
Allow the price to tend toward the Pivot Point , you will probably get a much better entry point, around this price level.
Recall that, in my idea of Monthly Pivotal levels I did mentioned that BTC price has been overshot as indicated by the two oscillators on my chart. Thus, BTC selloff is inevitable this month.
I recommend short entry to be opened at WPP , or when there's a push towards the 9000 - 9200 price range.
Whichever level you enter, our weekly target is at WPS1.
Don't forget to leave a comment and give a like.
Thanks for reading, and my the pips be with you all.
Trade active
Bitcoin is being dumped already, as projected. Currently, the Weekly Pivot Point is being tested.
I don't expect this level to hold, as buyers are massively taking profit.
Every pullback from this price level, is an opportunity to sell BTC.
Trade active
Hope you guys were able to sell BTC at 9k - 9.1k price range this morning? I did sell at those range! Cheers!!
Trade active
I keep selling BTC at every push up! May is sell BTC and go, then buy back in July!Note
Bitcion has actually closed above its WPR1, and went further to testing its MPR1! There's the probability of price continuation or failure at this juncture.
I still maintain my view on Bitcoin heading downward in May!
Note
And Bitcoin eventually broke down!Trade active
Target remains, Weekly Pivot Support 1 (WPS1). Cheers!
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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.