BTCUSDT has been in a range for months as of now , but people do not have the perspective the the big breakout which is on the way. We can clearly notice how the mid range has been a turning point (good reaction area). There was a recent tap (retest) on the mid range. We can surely expect BTCUSDT to now go towards range high or in simple words all time high (ATH). Though
BTCUSDT is spiking as of now , there are 2 possible scenarios , one key area and how you should keep patience and be on alert :-The range high tap. A tap on the ATH / Range high / resistance can lead to retesting again of the mid range before a breakout or reaching for a new all time high.
The Deviation Game. If the price does a breakout and instead of a retest it forms a deviation , its probably over for us. It has high chance of causing the price to push towards range lows and break bullish market structure to bearish. i.e. end of bull run.
The key area is the ATH area / range high area where all the movements will occur.
Kaizen
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Kaizen
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.