Bitcoin Daily Update
Price is in Broad Bear Channel.
Two Legs Down Completed. LH & LL.
Price action is of a trading range, overlapping bars, wick below bear and above bull bars. Not a trending characteristic of market.
Two sided trading is going on. Bears and Bull are making money in agreement.
What I expect Today
I believe, It is quite less likely to see price going above Today's Open or Breaking above Bear Trendline. The Max it might test is that PO,39320 which can be Range High area.
I think, If we fail to go above Bear TD then very likely to see price going below Swing Low, 37440 or test Friday Open, 36980. Basically, Price might find buying from the Area around Friday Open which is also Support of Bear TD.
Make sure, you are not trapped by trading in the middle of the trading range. There will be convincing bars but in trading range most fade out on next bar only.
Be Cautious.
Price is in Broad Bear Channel.
Two Legs Down Completed. LH & LL.
Price action is of a trading range, overlapping bars, wick below bear and above bull bars. Not a trending characteristic of market.
Two sided trading is going on. Bears and Bull are making money in agreement.
What I expect Today
I believe, It is quite less likely to see price going above Today's Open or Breaking above Bear Trendline. The Max it might test is that PO,39320 which can be Range High area.
I think, If we fail to go above Bear TD then very likely to see price going below Swing Low, 37440 or test Friday Open, 36980. Basically, Price might find buying from the Area around Friday Open which is also Support of Bear TD.
Make sure, you are not trapped by trading in the middle of the trading range. There will be convincing bars but in trading range most fade out on next bar only.
Be Cautious.
No Short Set-up were triggered.
It's a surprise so expect Two Leg Up.