Guys pay attention to the pivot points on the above chart.
Take note of the following: 1. Red line - Weekly Pivot Point ( WPP ) @9473 2. Purple line - Weekly Pivot Resistance 1 (WPR1) @9868 3. Black line - Weekly Pivot Support 1 (WPS1) @8936
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 ).
There is a likelihood that BTC would test its Weekly Pivot Support 1(WPS1) first.
If it does, price will bounce off WPS1 level and BTC could see some demand at this level which will push price upward to the WPP.
If BTC managed to close above its WPP level, buyers would likely push price to the WPR1 level.
I recommend taking long entry at the WPS1 price level to target WPP and 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.
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Buy limit order triggered, and BTC is just moving upward nicely. Hope you guys also took the trade?
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First target reached! Looking forward to BTC reaching the second target.