$BTC Bitcoin is quiet before the storm. We're waiting for the breakout.
I'm looking at the 4-hour chart โ Bitcoin has coiled like a spring. We're trading in the range of 79,500 โ 79,900. Volumes are dropping. Usually, before such a move, everyone holds their breath.
๐ What I see on the chart:
Upper range boundary: ~79,900 (we've bounced off there twice already)
Lower boundary: ~79,500 (holding for now)
If we break 79,900 โ we're off to test 80,800 โ 81,200
If we drop below 79,500 โ stop at 78,800 โ 78,500
โฝ๏ธ Funding has dropped almost to zero. Nobody is overheated. The market is waiting for a trigger.
๐ข My plan:
Break 79,900 with volume confirmation โ entry into a long position.
Break 79,500 โ I'll watch, possibly adding to 78,500.
What about you, which side of the range are you on? Waiting for a breakout up or a drop down?
๐
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