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Long Terms Price Action Analysis For BTCUSD 08/05/2019

key levels btcusd 8-5

The BTCUSD just arrived in significant supply level that we can see on the 1D chart, it seems the price maybe already touch this supply but it’s not sure, for now, there are 2 options to act,

1 – If the price will move up again toward the supply level and touch again the supply above, it’s a great opportunity to sell high, the demand below on the 1D chart will be the long term target,

2 – If the price will breakout the support below, it indicates that the price probably won’t touch again the supply above and we should look for price action setup to sell BTCUSD.

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