BTCUSDT PA Pennant/ Triangle| Fake-outs| Trend
Evening Traders,
Today’s analysis- BTCUSDT- trading in a clear price action pennant where an impulse is probable,
Points to consider,
- Price Action Impulse
- Dynamic S/R
(Support and Resistance)
- Low Volume
- .618 Fibonacci Resistance
BTCUSDT’s immediate price action is trading under its Dynamic S/R where an impulse is probable, allowing for short entries.
The .618 Fibonacci allows for a defined short entry for a continued bearish directional bias.
The Dynamic S/R is current resistance that if broken will negate the bearish case.
Overall, in my opinion, BTCUSDT 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,
“There are no guarantees in trading. The sooner you accept that you sooner you can release your expectations and focus unconditionally on a proven process.”
― Yvan Byeajee
Today’s analysis- BTCUSDT- trading in a clear price action pennant where an impulse is probable,
Points to consider,
- Price Action Impulse
- Dynamic S/R
(Support and Resistance)
- Low Volume
- .618 Fibonacci Resistance
BTCUSDT’s immediate price action is trading under its Dynamic S/R where an impulse is probable, allowing for short entries.
The .618 Fibonacci allows for a defined short entry for a continued bearish directional bias.
The Dynamic S/R is current resistance that if broken will negate the bearish case.
Overall, in my opinion, BTCUSDT 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,
“There are no guarantees in trading. The sooner you accept that you sooner you can release your expectations and focus unconditionally on a proven process.”
― Yvan Byeajee