Weekly Perspective On BTCUSD

20 במאי 2018

A bigger picture on BTCUSD provides better understanding of price action and long-term direction. The third of highest selling price is clearly attracting demand and supporting price. The pair is forming a complex pullback pattern with 1/3 of the highest selling price as the bottom. This triangle's ABCD legs are formed already and currently the E leg down can easily print a low around $7000. Buying those areas with stops below $6200 for 2R-3R targets is a lower probability but good R:R trade set up. Worth a try.