BTCUSD can potential bullish outcome

٧ سبتمبر ٢٠٢٠

Hi traders ,

In this analysis we can establish that the 20 MA on the weekly chart has strongly affected the price action in the past. As we can see , nearly every touch of the 20MA has rejected and continued the trend further, on the Buy side as on the Short side.
Right now, we have just touched the weekly MA and we are waiting for confirmation, this week we will probably know if the trend will continue on the Bull side, but based on the current volume it seems to have rejected. However keep in mind that today(Monday 7 September 2020) the stock markets are closed due to labour day and the institutional trading volume is not present.


On the daily chart we can see that after the recent drop there has been some accumulation and we can see the formation of a trading range, i strongly advise everyone to hold the trades untill we leave this area(most probably on the up side).

Patience is really a virtue, don't trade for the sake of trading!