$BTC is consolidating territory similar to what it did in May.
19.6 and 21.2 range is the first narrow band, first we need to wait for the exit movement from here.
The first hourly closings outside this region will inform the trade direction.
My primary expectation is to first go down to the levels below and test the 23 and 24 levels with a reaction from there. Filling the following levels first will be a healthy long.
If closings above 21.2 start to come, you can still take a position on the long side, but the risk will be high and you need to follow it closely. Because when it comes to filling the levels below, everything will again be very fast and brutal.
In summary,
- If there are shorts around 21.1, keep a stop over 21.4.
- I already told those who have already entered short not to force it over 20.5, I don't know if I need to repeat it, but I'll write it anyway.
- If there are closes above 21.1, those who think long should keep a stop below 20.6.
This region has been exposed to a fluctuation this week, so they constantly pose and stop, if anyone is looking for a safe position, they should wait a little longer, either wait for the 18s for long or if there is a short opportunity around 24, they will wait there, that is, they will wait for the extremes.
Good luck with,
It is not investment advice.
Graph Source: Tradingview
Posted Using LeoFinance Beta
