BTC remains range bound!
Last Thursdays chart I was watching a bit of an ascending triangle to see if it caved. It did quickly after the chart posting and we saw BTC fall from $6420's to $6354. This really isn't a big fall but when we have been trading in such a small range, it certainly is noticeable. $6000-6500 continues to remain of no interest to me as I have been stating for a couple of weeks now. We have been stuck within this range for about 2 weeks now outside of the 1 hour tether spike. Last chart I was watching for if the triangle broke bearish, would all 3 supports I had noted of $6412, $6375 and $6345 cave with it. Bulls held the last support by less than $9. They did try and battle back some over the weekend and I have set in place a new lower resistance at $6453 from that. But really, market is boring. Have my alerts down near 6k and up around 6.5k. Otherwise not checking in too often on BTC pricing. Sometimes the best trade is the one you don't make. I've been much more patient in this market as of late because the volatility just is not there to make for nice trades.
Bulls at this point would love to keep above the $6345 level and bears want to keep things under $6500. If bulls break above $6500, we look up towards our double top in the low $6800's for resistance. If bears break down under $6345, I look towards $6151, 6111, 6039 and 6k psychological. Things remain extremely tight so at this point, it continues to just be a game of patience.
Just My 2 Sats!
Bulls at this point would love to keep above the $6345 level and bears want to keep things under $6500. If bulls break above $6500, we look up towards our double top in the low $6800's for resistance. If bears break down under $6345, I look towards $6151, 6111, 6039 and 6k psychological. Things remain extremely tight so at this point, it continues to just be a game of patience.
Just My 2 Sats!
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.