Check Out This Week’s BTCUSD Market Move Analysis.

BTCUSD is a watch list trade pair for most traders this week.

Remember patience is key in forex always wait for price action before taking a trade, it always comes to the last decision to either buy or sell the markets and your analysis is key for profit.

BTCUSD has respected certain trend line areas making lower lows and lower highs as you can see below it is on a downtrend. From my previous article on-trend lines I emphasized the importance of treating trend lines as areas where the action is expected to happen

In BTCUSD we see a possible area of confluence on the daily timeframe:

An area of confluence is an area where market action is always expected to happen because we have different schools of traders eyeing the same opportunity.

Still, we want to see more price action to know what the market is doing and not what we think it is doing, whether the market is on a bullish or bearish move.

For support and resistance traders we see price may turn support to resistance on the daily and 4-hour time frame.

The market is still ranging and remember as I said wait for more price action.