BTCUSDT Local Parabola| Price Action| Trend| Trade

9 בנוב׳ 2021

Evening Traders,

Today’s analysis – BTCUSDT – trading in a local parabola that is bound to break bearish,

Points to consider,
- Price Action Impulsive
- Local Range Support
- Local Parabola intact
- Volume Influxes

BTCUSDT’s immediate price action is trading in a rising parabolic fashion that will allow for a bullish bias once broken.

The local range high is support, breaking back within increases the probability of the range low being tested.

The volume influxes is indicative of squeeze, bear volume influxes will be imminent once the parabola is broken.

Overall, in my opinion, BTCUSDT is a valid short with defined risk, price action is to be used upon discretion/ management.

Hope this analysis helps,

Thank you for following my work

And remember,

The market can stay irrational longer than you can stay solvent. - John Maynard Keynes