I continue to hold my LONG position. Not much has changed since the last analysis. My analysis shows that bitcoin
is moving in a regular accumulation range. The width of this is D1ATR. Which means the value of the daily average movement, taking the last 14 days into account. You can see that it has been in this range for almost two weeks. The red square in the chart is the "spike area", which means that price movement can be spiked symmetrically below and above in this range. The basic rule of the ATR strategy is to allow spiking, but not a sustained close out. Accordingly, I have set a STOP LOSS level below which I will permanently close my long position in BTCUSD
. This level is : 27400.80 usd. As for the target price, it remains unchanged. It is included in my previous analysis. In short: I remain in a LONG position. My assumption is that the price movement will break out from the accumulation range to the upside. If the red SL level is reached I will close.