BTCUSDT.P Range Preparing For Breakout
Based on technical analysis of the candlestick charts, I believe that BTCUSDT is in a range period, where it's continued to fluctuate around 56-62K for weeks.
It's accumulating liquidity to produce a large breakout move.
The key to mastering this move is watching and waiting to see big volume candles either breaking out of support or resistance, then tailoring your entry based on the outcome of the move.
It is definitely NOT advisable to trade during this range, always look for a big volume candle('s) before entering any trade, otherwise you're entering in the dark.
ALWAYS HAVE AN EXIT PLAN before you enter a trade, whether it's a SL or another tactic, risk management is super important.
It's accumulating liquidity to produce a large breakout move.
The key to mastering this move is watching and waiting to see big volume candles either breaking out of support or resistance, then tailoring your entry based on the outcome of the move.
It is definitely NOT advisable to trade during this range, always look for a big volume candle('s) before entering any trade, otherwise you're entering in the dark.
ALWAYS HAVE AN EXIT PLAN before you enter a trade, whether it's a SL or another tactic, risk management is super important.
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.