Bitcoin has just caused a 1000 points range. Super high volume levels at $9,000 and $8,000 that, very likely, will produce a range.
What does it mean? The price very possibly will bounce between $9,000 and $8,000 until high volume levls close to these support and resistance will break any of those levels.
No doubt, if the breakout is finally upwards, the bullish trend will be more than confirmed. However, if it is dorwards, the pull-back, that for sure will be healthy for the BTC price, will be longer. To levels around $7,500 and $7,000.
What is more likely to happen? A ascending triangle is currently forming, this pattern ususally ends up with a bullish breakout. A breakout that might test again the resistance at $9,000.
The Copilot
Yorum
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Update:
Bitcoin price still hovering around the two high volume areas. Boring week upcoming, we must be patience and wait for the breakout.
If you are a range trader, check the following chart