BTC - when we can expect a break of range trading ?
Hi all,
BTC still trading sideways caught mainly in the $9,500 -$9,300 range.
The Saturday session on June 20 was quite volatile as bitcoin was moving in the $9,400 - $9,120 range before closing at $9,355. Bulls managed to regain some of their positions and avoided further decrease to the sub-$9k levels.
On Sunday, June 21, the major cryptocurrency formed a similar candle but in the opposite direction and erased all of its gains from the previous day by ending the week at $9,277. Still, it remained flat for the week.
I'm still bullish on BTC and as we have previously discussed, the consolidation periods are a normal thing and are always followed by an establishment of a trend. Let' see how price reacts in the next few days and how the setup evols. I don't have any shorts opened at the moment and added a few more longs just for the love of the game.
Today and tomorrow will be interesting given the fact that on the 4-h chart the price is coming closer to the zone where the horizontal resistance/support at $9,500 meets the diagonal downtrend.
P.S. By the way, alts are starting to look a lot better now. I'm looking at ONT and IOST in particular. Tomorrow will have a quick look at the major altcoins index and hopefully, add mid-cap altcoins (10-20 rank lets' say) to another idea.
Cheers,
BTC still trading sideways caught mainly in the $9,500 -$9,300 range.
The Saturday session on June 20 was quite volatile as bitcoin was moving in the $9,400 - $9,120 range before closing at $9,355. Bulls managed to regain some of their positions and avoided further decrease to the sub-$9k levels.
On Sunday, June 21, the major cryptocurrency formed a similar candle but in the opposite direction and erased all of its gains from the previous day by ending the week at $9,277. Still, it remained flat for the week.
I'm still bullish on BTC and as we have previously discussed, the consolidation periods are a normal thing and are always followed by an establishment of a trend. Let' see how price reacts in the next few days and how the setup evols. I don't have any shorts opened at the moment and added a few more longs just for the love of the game.
Today and tomorrow will be interesting given the fact that on the 4-h chart the price is coming closer to the zone where the horizontal resistance/support at $9,500 meets the diagonal downtrend.
P.S. By the way, alts are starting to look a lot better now. I'm looking at ONT and IOST in particular. Tomorrow will have a quick look at the major altcoins index and hopefully, add mid-cap altcoins (10-20 rank lets' say) to another idea.
Cheers,
Trade active:
Just as predicted the price of BTC broke out of the zone where the horizontal resistance met the diagonal one at $9,500
Now the fight is at $9,700 and I expect this one to be broken today if we manage to close above $9,600
Now the fight is at $9,700 and I expect this one to be broken today if we manage to close above $9,600
