Bitcoin Range | Possibly heading lower? | BTCUSD Sell Scenario
Hi guys. take a look at this range I marked out.
Expecting price to test the other side.
Ideally I don't really want price to go above the yellow box.
If you don't want to take much risk, wait until price is back in range again, as it will then likely test the lower bound (3449) again; after that possibly the blue pyramid.
Expecting price to test the other side.
Ideally I don't really want price to go above the yellow box.
If you don't want to take much risk, wait until price is back in range again, as it will then likely test the lower bound (3449) again; after that possibly the blue pyramid.
Comment:
Price did not close above box yet, but i suspect it will.
The lack of reaction, is a bullish sign
The lack of reaction, is a bullish sign
Trade closed: stop reached
If it convincingly goes and closes above the yellow box, i suggest closing all your btc short positions if you have some, at least until it is back in range again.
Psychologially speaking. it's at a maximum pain point. Which could be a good thing to trap in longs.