Bitcion Pivotal Levels: August 03 - August 09, 2020

Guys pay attention to the pivot points on the above chart.

Take note of the following:
1. Red line - Weekly Pivot Point ( WPP ) @11035.
2. Purple line - Weekly Pivot Resistance 1 (WPR1) @12137.
3. Black line - Weekly Pivot Support 1 (WPS1) @9971.

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 was trading above its Weekly Pivot Point ( WPP ) and price has tested its WPP already.

Again, I need to bring to your notice that BTC market bias has shifted to uptrend on the 4 hours and Daily charts during the trading sessions last week.

If price continues to trade upward, BTC will test its WPR1. And if price got rejected at the WPR1 it would trade downwardly to the WPP .

Also, if BTC break the WPP level it will reach 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.