BTC established a range:
Range High = 42500
Range EQ = 38500
Range Low = 35000
1. Swept range high, made a lower high --> bearish --> dump followed
2. Lost range EQ (50% of range, red line)
Scenario 1:
- Look to long a sweep of range low @ 35000
Scenario 2:
- Reclaim range EQ as support @ 38500 --> long targeting range high @ 42500
Range High = 42500
Range EQ = 38500
Range Low = 35000
1. Swept range high, made a lower high --> bearish --> dump followed
2. Lost range EQ (50% of range, red line)
Scenario 1:
- Look to long a sweep of range low @ 35000
Scenario 2:
- Reclaim range EQ as support @ 38500 --> long targeting range high @ 42500
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.