BTCUSD: Ranged trading, many opportunities.

Bitcoin is at the bottom of a 2-week Channel Up pattern with 1D technicals still bullish (RSI = 61.203, MACD = 1023.500, ADX = 42.545) but not overbought as previously. Right now with the circled pattern having seen three times already in less than 1 month and the price at the bottom of the Channel Up, we are bullish (TP 23,300). A closing above the 4H MA50 will trigger a new buy to the bottom of R1 and similarly a closing above the Channel Up will trigger a buy to the August top (TP = 25,200).

Sell trigger if the S1 Zone breaks, in which case we should see 1D RSI in negative territory and we will take the opportunity to short to the 4H MA200.



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