In this range we have, two big areas of support and resistance, they are the lower and upper parts of this range respectively.
Marked with thinner lines we have the smaller support and resistance lines within this range.
Right now BTCUSDT is building up against the resistance of this range (30K to 40K), we have a clear uptrend towards resistance, before the move stalled.
This could mean a build-up against resistance, before another attempt at a breakout, that could potentially put us above 40K if it's backed by volume.
We should be careful though, as a false breakout with a strong rejection is also possible.
Also, if the structure created by the trendline against the resistance, is broken down, we could very well go to the lower part of the range and stay there for a while.
Marked with thinner lines we have the smaller support and resistance lines within this range.
Right now BTCUSDT is building up against the resistance of this range (30K to 40K), we have a clear uptrend towards resistance, before the move stalled.
This could mean a build-up against resistance, before another attempt at a breakout, that could potentially put us above 40K if it's backed by volume.
We should be careful though, as a false breakout with a strong rejection is also possible.
Also, if the structure created by the trendline against the resistance, is broken down, we could very well go to the lower part of the range and stay there for a while.