BTC range to watch (short-term)
Updated
BTC has once again approached the critical $30,000 level, setting the stage for a fierce battle between bulls and bears. This showdown is not expected to finish in some days (but maybe some weeks in my opinion), even though the bulls have demonstrated notable strength in recent days.
My current hypothesis still leans towards a retest of the $23,000-$24,000 level in some weeks/months, as outlined in the reference link provided below, but I remain prepared for all scenarios.
To support my current trades, i'll watch closely the movement of BTC using the range described in chart. Everytime BTC reaches a key level or when the structure is no longer valid, I will share with you my thoughts.
I'm glad if you could comment on this chart and share your views.
Disclaimer:
This analysis is based on my personnal views and is not a financial advice. Risk is under your control.
Note
The first move: I expect that BTC will retest the range's low at around $29500 and bounce.Trade closed manually
The distribution structure that I expected does not hold. I'll move on on the next analysis. BTC continues to show strength but the resistance 30K-32K is just right above (to break).
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