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BTCUSDT High Probability Long Setup| Correction First ?

The trade location is in technical confluence with the Daily S/R Support, Point of Control Support and the .618 Fibonacci alongside a rising VWAP making it a high probability reactive zone

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Today’s report will include:

  • Updated Technical Analysis

  • Other key market developments

  • Market Psychology

  • Trading Tools

BTCUSDT Long Trade 📈 

In Today’s analysis -BTCUSDT- clearly rejecting from its channel high resistance, this opens the door for a corrective piece of price action to come.

Points to consider ✍️ 

  • Point of Control Support

  • Daily S/R Support

  • Channel Low Support

  • .618 Fibonacci Confluence

  • Channel High Objective

Bitcoins lower technical support level is in confluence with the channel low support, this area is yet to be tested.

The trade location is in technical confluence with the Daily S/R Support, Point of Control Support and the .618 Fibonacci alongside a rising VWAP making it a high probability reactive zone

Overall, in from Bitcoin Insider’s perspective, BTCUSDT is a valid long with defined risk at the channel low, how price reacts needs to be used upon discretion/ management of the trade.

Hope this analysis helps.

Trading Tools ⚒️ 🔧 

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Trading Psychology  🧠 

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