BTCUSD is currently consolidating within the 112,828–114,798 sideway range.Earlier, the market broke out from a smaller accumulation inside the larger range, generating an IRB (Inside Range Break) signal, pushing price back toward the upper boundary.
Price is now forming a momentum consolidation, indicating potential for another breakout.
2 Possible Scenarios
1. RB (Range Break)
Price compresses further with EMA pressing tightly.
A strong breakout directly above the range top may occur with momentum.
2. ARB (Advance Range Break)
After breaking above the range, instead of continuing higher immediately, price may stall.
A new consolidation forms just above the broken range, with EMA pressing upward.
This setup may signal a continuation of the previous breakout move.
You can refer to my previous analysis here:
https://www.tradingview.com/chart/BTCUSD/S4hoKM5P-BTC-consolidates-after-a-significant-price-spike/
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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.