No Buyers Above 20K, Bitcoin 4H Chart

Bitcoin / TetherUSBinance

Description

⋅ Sep 27, 2022 8:34 PM

In my previous analysis, after Bull breakout I was thinking of higher prices.

But BTC reversed down strongly. Up, down, confusion and trading range.

Trading range means both bulls and bears are active and trading. And remember the 80% rule.

Markets tend to do what they were doing. Means inertia. 80% of trading range breakouts fail.

Watch 2 price levels. 18200 range bottom, 20180 range top. As long as BTC is within this range, market cycle won't change.

Bulls need strong breakout above range top and bears need breakout below range bottom. After that BTC direction will be clear.

What do you think about this chart? Feel Free and Comment Below!

Comments

nestorador

⋅ Sep 27, 2022 8:44 PM

Of course! They were sellers there :-) And they hide now to make you move price lower to return buying. Best wishes to your trades! I am still long, you may check my last crazy idea. The idea is even more crazy, but I publised censored version ;-)

AmirSoraya

⋅ Sep 27, 2022 8:50 PM

@nestorador, For sure, thanks for your comment.