Bitcoin Price (BTC/USD) - Reversal OR Continuation? The last couple of days/weeks were truly boring

Bitcoin Price (BTC/USD) - Reversal OR Continuation? The last couple of days/weeks were truly boring

BTC has been stuck inside our gray range, and the last couple of days, that range is contracted to form range within a range.

The longer the consolidation, the more aggressive the movement would be after the breakout. So be prepared!

The question is... which way?

Scenario 1: Trend Reversal

For the bulls to take over, we need a daily momentum candle close above the upper bound / gray zone.

In this case, a movement till the upper resistance zone 38k - 40k would be expected.

Scenario 2: Trend Continuation

For the bears to take over, we need a daily momentum candle close below the lower bound / gray zone.

In this case, a movement till the lower demand zone resistance 18k - 20k would be expected.
BTC - Reversal OR Continuation?The last couple of days / weeks were truly boring - 1

Which scenario do you think is more likely to happen? and Why?

Always follow your trading plan regarding entry, risk management, and trade management.

Read next: Altcoins: Tether (USDT), What Is It? - A Deeper Look Into The Tether Blockchain| FXMAG.COM

Good luck!

All Strategies Are Good; If Managed Properly!

~Rich

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Richard Nasr

Richard Nasr

- Full-time Trader, Coach, and Founder of theSignalyst with 400+ Students Worldwide.
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