BTC is consolidating. Trading inside the channel
Aktualisiert
Bitcoin maintains an upward market structure even after the shakeout. Buyers are aggressively protecting all risk areas that could panic the market.
On the daily timeframe, the price is holding steady above the local lows, forming a cascade indicating an uptrend
Scenario: Since bitcoin is trading inside the consolidation, we can take it as a fact that the most chaotic movements and traps will be inside the channel. Accordingly, trading is allowed only within the boundaries of such a channel. In our case, there are no signals to break the channel boundary, so we can trade a false breakout.
Since the support was tested earlier, the market is currently interested in liquidity beyond the 100K level
Idea: I am waiting for a sharp approach to resistance, a false breakout and a fall to support
On the daily timeframe, the price is holding steady above the local lows, forming a cascade indicating an uptrend
Scenario: Since bitcoin is trading inside the consolidation, we can take it as a fact that the most chaotic movements and traps will be inside the channel. Accordingly, trading is allowed only within the boundaries of such a channel. In our case, there are no signals to break the channel boundary, so we can trade a false breakout.
Since the support was tested earlier, the market is currently interested in liquidity beyond the 100K level
Idea: I am waiting for a sharp approach to resistance, a false breakout and a fall to support
Trade ist aktiv
Bitcoin reaches previously outlined target of 100.500
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