rfelchuk

BTCUSD. Will the range low hold?

BYBIT:BTCUSD   BTCUSD Perpetual Futures Contract
BTC has provided a weaker performance than I expected.

My strong HTF bullish expectations rest upon the preceding HUGE impulsive move.

I am still HTF bullish , the only problem is: I expected a breakout by now, which clearly is not the case.

The price has now approached the support which is also defined as the low of the range. Moreover the previous low has been taken, which opens up a whole lot of an opportunity for a SFP (i.e price has probed the liquidity)

If daily fails to hold above 8960 I expect price to slide to the 8600-8800 range where it would test the previously broken resistance from the other side.

Keep risk under control and profits be with you!
Nov 08
Comment: The low of the previous range didn't hold but demand zone is proving legit.

Nov 10
Comment: Just look how well the support has played out!

Also mention how much price respects the trend line (marked with green arrows)

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