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BTCUSD: Price Action & Classic Long Trade Explained



hey traders,


after a nice violation of 38500 local structure high, we see a pullback and retest of that level.


after setting a new local high on 41000 level,

the price started to fall and initiated a local bearish trend on an hourly time frame with a lower high and two lower lows.


during the weekend, however, a higher low was set.

This morning the price managed to set a new higher high above the previous lower high starting a new local bullish trend on hourly.


Now bullish continuation is expected with an initial goal 40920 and then a potential new high.

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