Guys pay attention to the pivot points on the above chart.
Take note of the following: 1. Red line - Weekly Pivot Point ( WPP ) @9280. 2. Purple line - Weekly Pivot Resistance 1 (WPR1) @9506. 3. Black line - Weekly Pivot Support 1 (WPS1) @9079.
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 is trading below its Weekly Pivot Point ( WPP ), but price is very closed to the WPP level.
If BTC failed to break the WPP upward, it would trade downward to 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 closed: target reached
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BTC just tested WPS1, having failed to break the the WPP. Hope you guys were able to make some $$?