Happy New Year!
Well we continue the same old story as I've been watching for months now. Back in September or October I was watching for our 7400-7750 range to be our support for a bottom. We had the strong bounce with a nice 40%+ bounce off the support zone.
Next came the pull back down and watching if support would eventually cave and then serve as our resistance. We had this and saw a fall below $7400 of 12% or so.
Since then bulls continue to get stuck within our same zone and just unable to build any momentum to get above it. $7,000 was trying to serve as support for the last 2-3 weeks and today we are seeing that begin to crumble.
I've laid out the last pops with rejections and then our support down at $6400-6500 area. Continues to be a relatively non interest to myself and likely most traders or anyone as its extremely range bound with our resistance zone at 7400-7750 and our support down at 6400-6500 with 7k being more or less a middle ground for each side. Some can work small scalp trades within this range but overall just a tough trading environment until bulls or bears get momentum on their side to push price above or below this range we are in
Just My 2 Sats!
Well we continue the same old story as I've been watching for months now. Back in September or October I was watching for our 7400-7750 range to be our support for a bottom. We had the strong bounce with a nice 40%+ bounce off the support zone.
Next came the pull back down and watching if support would eventually cave and then serve as our resistance. We had this and saw a fall below $7400 of 12% or so.
Since then bulls continue to get stuck within our same zone and just unable to build any momentum to get above it. $7,000 was trying to serve as support for the last 2-3 weeks and today we are seeing that begin to crumble.
I've laid out the last pops with rejections and then our support down at $6400-6500 area. Continues to be a relatively non interest to myself and likely most traders or anyone as its extremely range bound with our resistance zone at 7400-7750 and our support down at 6400-6500 with 7k being more or less a middle ground for each side. Some can work small scalp trades within this range but overall just a tough trading environment until bulls or bears get momentum on their side to push price above or below this range we are in
Just My 2 Sats!
