BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
BTC has been stuck in a range for 3 months. The more the range boundaries are tested, the weaker it becomes.

But the question is => Which way is it going to break?

Scenario 1: Bullish Reversal

In this case, we will need a momentum Daily candle close above the 41k to confirm it, then we will be looking for buy setups on its retest.

Scenario 2: Bearish Continuation

In this case, we will need a momentum Daily candle close below the 27k , then we will be waiting for it to approach the 20k demand zone to look for buy setups.

Which Scenario do you think is more likely to happen? and Why?

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich
This analysis is done using RichTL indicator
http://www.RichTL.com

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Comments

I read comments like “great job” and “well done”. Like, I’m relatively new to trading and this post makes me wanna say “It’s been stuck for 3 months in a range and it’s going to either go up or down. No shit!” Do these analysts with high reputation scores have a requirement to post a certain amount or something. Cuz quite a few of them post “analysis” that is similar to this. Goodness gracious!
+21 Reply
@cr9b5mgghb well said 👌🏻
+3 Reply
@cr9b5mgghb check my previous analysis posts then you will understand why😁 especially the video ones. enjoy it
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And by the way, check my previous three analysis on Bitcoin where I was waiting for it to approach the 30k to look for buy setups. Then posted two updates when the setup is formed.
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GODsPLAN777 cr9b5mgghb
@cr9b5mgghb, :))) Resistance in 35.5 k dynamic and static very Stronge dude . thats very simple ( Price action ) . sale news buy .. ( short sell my idea )
+1 Reply
fred0002 cr9b5mgghb
@cr9b5mgghb, What you don't see, is all the resistance & support lines that have been drawn. These lines are key levels for BTC that the price will react on, as for the "either up or down", when we see sideways movement like right now, the price is unstable, and the only way to really trade is of these levels, which he points out in his analysis. Generally, I think people who just think"Only UP" are way worse than pointing out that it can go either way, which is more honest. The analysis tells you, how to react in both scenarios.
+2 Reply
watchtrend cr9b5mgghb
@cr9b5mgghb, Bitcoin looks to go into new short trend, yes true about the stuck of 3 month range
+1 Reply
@fred0002 respect 🙌
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AlexVitori cr9b5mgghb
@cr9b5mgghb, Basically, words "well done" and "nice charts" I see from the active community members, who want to hang around popular analysis, cause it makes them more visible.
+2 Reply
watchtrend cr9b5mgghb
@cr9b5mgghb, let see this this target done before the real whale trend will change the trend
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