BTCUSDT Local S/R Zone| Price Action| .618 Fibonacci| Trend

2021年12月9日

Evening Traders,

Today’s analysis – BTCUSDT – trading at a local area of confluence where a rotation to the highs is probable,

Points to consider,
- Price Action Corrective
- Bullish OB Support
- .618 Fibonacci Confluence
- Swing High Objective
- Trend

BTCUSD’s immediate price action is corrective and is trading at a technical location that has confluence with the .618 Fibonacci and Bullish OB, allowing for a bullish bias.

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

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

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

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And remember,

“It’s OK to be wrong; it’s unforgivable to stay wrong