Bitcoin is Setting Up a New Range After Breaking Down
Bitcoin appears to be setting up a new very tight range after breaking down below the previous range it was held within for several weeks. Currently it is right at the bottome of this range so there could be a possible break down very soon. But it if bounces then it will confirm the horizontal range in the consolidation pattern. During the previous range I traded the support and resistance of the range only a few times for over 15% profit. Thery were very short term trades on very small timeframes. And there were several oppertunities to trade the supports and resistances as it was rangebound for several weeks. But I only traded a few of these opportunities and still made a substantial profit for a ticker that wasnt moving basically. Things look much more bearish technically all across most asset classes so this time BTC might not stay within this range for as long as last time.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Trade the trends via technical, fundamental, and macro analysis. Day Trades, swing trades, and long-term investments.
18KFollowers
2967Following
32KVisitors
Follow
Musky : Hohoho
come down to 1k so I can enter and buy some![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
SpyderCall OP : i just put a small amount on this support to see what it does. im bored
SpyderCall OP Musky : lol! very funny. I will definitely buy some at that price point for sure
102553691 : Wait for 7000 yuan to buy one.
SpyderCall OP : How much is 7000 yuan in US dollars
astabrin : time to buy in tons and tons .... and be the billionaire
SpyderCall OP astabrin : Maybe not yet. This might not be the bottom. But it did bounce off of that support immediately after I posted this. There is a potential 10% gains to be made on the run up to the resistance of the range. That is a good profit potential.
SpyderCall OP astabrin : I hope the bounce will make it to resistance.
102553691 SpyderCall OP : 7000 dollars
Silverbat : May see a big tech rebound in August
View more comments...