BTCUSD Key Levels|Weekly S/R|Liquidity Zone|Bearish Price Action

3 wrz 2020Evening Traders,

Today’s analysis – BTCUSD- strong impulse sell from $12 K psychological, current weekly S/R is at the pivot point for the macro trend.

Points to consider,

- Bearish PA
- Liquidity buy back
- Valid volume climax
- Bearish retest (11.5K)

BTCUSD continues to trade with bearish price action, no bull volume follow through evident, this allows us to maintain a bearish bias.

The liquidity zone is currently holding true, breaking below this level will be extremely bearish, and price will then likely test lower S/R.

There is a valid volume climax which entails a temporary bottom; price needs to hold above this low for a bounce.

Overall, in my opinion, the most important level for BTCUSD is the 11.5K region, what price action does here will be indicative of the overall trend. A short trade here is valid, immediate nullification will be candle closes above.

Hope this helps!

Thank you for following my work!

And remember,

“All statistics have outliers. Money management, therefore, is key to the process of good trading.”
― Yvan Byeajee