BTCUSDT VWAP S/R| Daily S/R| Price Action| Trend

٢٨ أغسطس ٢٠٢١

Evening traders,

Today’s analysis – BTCUSDT- trading above is Local S/R allowing for a potential upside move,

Points to consider,
- Price Action Impulsive
- Local S/R Support
- Daily S/R Resistance
- Swing High Objective
- Declining Volume

BTCUSDT’s immediate price action is trading at a local support that has technical confluence with a VWAP S/R, allowing for a short term bullish bias.

The upside swing high is the current objective, exceeding this level will likely lead to a trend continuation.

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

Overall, in my opinion, BTCUSDT 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,

“You will never find fulfillment trading the markets if you don’t learn to appreciate and be satisfied with what you already have.” ― Yvan Byeajee