Bitcoin - The range unravels
I present to you my mid-term view on how BTC/USDT price action will develop in the coming weeks.
Bitcoin is still range bound and has already tested, with good volume, three times the HTF support.
Before entering in a long position I want to see a retest on the 30077.97 level. If this plays out, I think we are headed to the range high with a strong bounce that will pearce the short term diagonal resistance and the mid range level.
Invalidation point is the bottom of the purple rectangle representing the support Bitcoin has just bounced from (around $28700). Before even considering entering a short I want to see a strong downward move piercing the aforementined level with conviction (with higher that average volume and no wicks).
Happy trading everyone!
Bitcoin is still range bound and has already tested, with good volume, three times the HTF support.
Before entering in a long position I want to see a retest on the 30077.97 level. If this plays out, I think we are headed to the range high with a strong bounce that will pearce the short term diagonal resistance and the mid range level.
Invalidation point is the bottom of the purple rectangle representing the support Bitcoin has just bounced from (around $28700). Before even considering entering a short I want to see a strong downward move piercing the aforementined level with conviction (with higher that average volume and no wicks).
Happy trading everyone!
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