BTC/USD simple trendline and support range trade

If we see the range on daily time frame we notice that whenever BTC came across the upper range it immediately faced a resistance and the downfall was quite sharp. This time BTC has remained on the upper end of the range for some days and is not showing any sign of a dip, rather any dip is being bought and the price is trying to sustain at the upper range. This is also supported by the fact that the upper range has been tested many times which makes the same weak (Simple Price Action Theory).
Now we won't be complicating the charts. Remove all indicators and we see that price has been following a trendline from the bottom of the move. This trendline has shown its worth many times. A support range is also visible on the upper side of the consolidation on 1 hour time frame. We will play long by keeping Stop Loss just below the support range which also makes it below the 0.786 level retracement and we will aim for 81000 around targets.
Now we won't be complicating the charts. Remove all indicators and we see that price has been following a trendline from the bottom of the move. This trendline has shown its worth many times. A support range is also visible on the upper side of the consolidation on 1 hour time frame. We will play long by keeping Stop Loss just below the support range which also makes it below the 0.786 level retracement and we will aim for 81000 around targets.
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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.
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.