Over the past week, Bitcoin’s volatility diminished significantly. Currently, it trades near 16 800$ and stays within the narrow range. For as long as the price stays within this range, we will remain neutral. However, beyond that, we stay bearish and maintain our price targets of 15 000$ and 13 000$. The setup remains valid with the bearish trigger accompanying a breakout below the range and the bullish catalyst with a breakout above it.
Illustration 1.01 Illustration 1.01 shows the setup for BTCUSD that has been in place for a while now.
Technical analysis Daily time frame = Neutral Weekly time frame = Neutral
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