The price of BITCOIN has been trapped in a well-established trading range between $45.5k and 
52K for exactly one month now. The price of bitcoin is still in a state of consolidation and nothing has changed in general as the price moves inside the range. However, if the price breaks to either side of the boundary, traders can enter in the direction of a breakout or breakdown from the trading range. To confirm the move is valid, use other indicators, such as volume, bollinger bands etc along with price action.
Let's go over the two key scenarios :
- The first possibility involves a squeeze around the trading range's upper boundary (52K-51k) and a breakout, which could present a strong buying opportunity.
- A renewal of the key level of
42K is the second scenario where the wick gets filled. It might be an excellent selling opportunity if there is a breakdown of the trading range's lower boundary (
46K-45.4k).
There's a high possibility that buy orders at42K-40k zone gets filled from where the price may finally bounce back to the upside.
Not a financial advice.
Do not forget to DYOR.
Feel free to share your thoughts on BTC in the comments below.
52K for exactly one month now. The price of bitcoin is still in a state of consolidation and nothing has changed in general as the price moves inside the range. However, if the price breaks to either side of the boundary, traders can enter in the direction of a breakout or breakdown from the trading range. To confirm the move is valid, use other indicators, such as volume, bollinger bands etc along with price action.Let's go over the two key scenarios :
- The first possibility involves a squeeze around the trading range's upper boundary (
52K-51k) and a breakout, which could present a strong buying opportunity. - A renewal of the key level of
42K is the second scenario where the wick gets filled. It might be an excellent selling opportunity if there is a breakdown of the trading range's lower boundary (46K-45.4k).There's a high possibility that buy orders at
42K-40k zone gets filled from where the price may finally bounce back to the upside.Not a financial advice.
Do not forget to DYOR.
Feel free to share your thoughts on BTC in the comments below.
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.