Update! $BTC range Bound... Consolidation? Breakout? Breakdown?
BTC appears to have formed a range: between approximately between 76800 and 104,300Current price: 104300
Here are the key observations:
Key resistance zone is around 104300 - Price has tested this level multiple times but failed to close above it decisively.
Clear to say that A break above which will lead to All time highs possibly up to 135k
If #BTC Bitcoin continues to reject this level then expect these layers of support to be tested:
97700 and then 91100
BTC remains bullish if prices remains above 91100. Further break down will lead to bottom of range 84100 and 76800 (coinciding with 200 EMA )Trading Implications:
For Longs: Avoid new positions unless there's a breakout with volume above $105,000.
For Shorts: This is a possible scalp opportunity near the top of the range, with a stop slightly above $105,000.
Not financial Advice!
Trade active
Rejects again at approximately 105k areaNote
Price action still rejecting the top of the range.... Taking profitsNote
BTC Price action has broken out of Range.... 135k in the cards?
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.