BTCUSD Price Action Apex| Range High| Range Low

26. Mai 2021

Evening Traders,

Today’s analysis – BTCUSD – trading in a probable price action pennant with an apex,

Points to consider,
- Price Action Impulse
- Dynamic S/R Resistance
- Low Volume
- .618 Objective

BTCUSD’s immediate price action is impulsive, trading below it’s dynamic s/r where a rotation towards the lows is probable.

The current volume profile is on a decline, an influx is imminent when testing key trade location.

The current objective is the .618 Fibonacci that is in confluence with the low dynamic s/r support, exceeding this level will increase the probability of a trend continuation.

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,

“Confidence is not "I will profit on this trade." Confidence is "I will be fine if I don't profit from this trade.”
― Yvan Byeajee