**Bitcoin expands within a range trading**

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
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Bitcoin continues its expansion within the consolidation range, on a low volatility .

* Trading range has contracted to $8,100 - 8,200 and the market activity is rather low.
* Any break-out of this contraction could indicate the way towards the one of 1H channel boundaries.
* RSI is looking up the North direction and could potentially signal the divergence when the price reaches the upper band of 1H channel around $8,500.
* The price needs some powerful trigger - the driver that could substantially push the price either direction.
* Until that, we expect slow range trading on a low volatility .

Short-term trading strategy

* Since the price is now closer to the Upper Band ($8,500) of 1H channel, it is better to wait and see the price action at this level to start looking for Short set-ups.
* If you Hold Longs at the moment, keep it for the target of $8,500 and set the Stop-loss at $8,080.
* Adding more Longs may be not a good idea, at the moment.

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This report is for information purposes only and should not be considered a solicitation to buy or sell any cryptocurrency or cryptocurrency product. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.
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