BTCUSD Price Action Channel| .618 Fibonacci| Volume| Trend

20 ธ.ค. 2021

Evening Traders,

Today’s analysis – BTCUSD – trading in a local channel where a run of the lows is probable,

Points to consider,
- Price Action Corrective
- .618 Fibonacci Support
- Channel low Support
- Low Volume

BTCUSD’s immediate price action is corrective and is approaching an area that has technical confluence with the .618 Fibonacci and Channel Low support, allowing for a bullish bias.

The current volume profile is below average, an influx is highly imminent when testing a key trade location.

Breaking out of the channel will be indicative of strength, thus in search of liquidity.

Overall, in my opinion, BTCUSD is a valid long with defined risk, price action is to be used upon discretion/ management.

Hope this analysis helps

Thank you for following my work

And remember,

Timing, perseverance, and ten years of trying will eventually make you look like an overnight success. – Biz Stone