BTC - Triangle
Pretty clean price action here on BTC the last week.
We are respecting an upwards sloping trendline for now, while rejecting from the top supply zone.
Longs can be taken at the trendline or if we start grinding into the supply zone above 92k.
Taking shorts in that 91.8-92k zone has been very profitable as well.
I always like to identify this sort of ranges asap, because many people try to position on high leverage for a breakup or breakdown here, resulting in those very volatile intra-range moves.
If the trendline is lost, we look for longs in the green zone
We are respecting an upwards sloping trendline for now, while rejecting from the top supply zone.
Longs can be taken at the trendline or if we start grinding into the supply zone above 92k.
Taking shorts in that 91.8-92k zone has been very profitable as well.
I always like to identify this sort of ranges asap, because many people try to position on high leverage for a breakup or breakdown here, resulting in those very volatile intra-range moves.
If the trendline is lost, we look for longs in the green zone
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