Inspecting BTC price action recently and we have now been consolidating in a range for about 2 months. I expect that we will tap above the recent highs of this range before sending for a major correction in price.
The things shared in this post build from ideas shared in this post last week.
There are ultimately 2 possibilities that I am looking at for Bitcoin, one of which is that the bottom of this range has already printed, and that we will begin a climb to ~75k throughout the month of May.
The second option I am seeing is that the lower level shown on the chart is the bottom of the range, in which case price will wick some level below it before then gaining some momentum to carry up to the top of the range. The stop loss of this level would need to be determined with price live as it is reaching that level, so there is none shown with the chart.
Of course both ideas are speculative, however, the more price continues to range, the more I think the idea of tapping new ATH prices is likely before having a corrective wave.
Inspecting BTC price action recently and we have now been consolidating in a range for about 2 months. I expect that we will tap above the recent highs of this range before sending for a major correction in price.
The things shared in this post build from ideas shared in this post last week.
There are ultimately 2 possibilities that I am looking at for Bitcoin, one of which is that the bottom of this range has already printed, and that we will begin a climb to ~75k throughout the month of May.
The second option I am seeing is that the lower level shown on the chart is the bottom of the range, in which case price will wick some level below it before then gaining some momentum to carry up to the top of the range. The stop loss of this level would need to be determined with price live as it is reaching that level, so there is none shown with the chart.
Of course both ideas are speculative, however, the more price continues to range, the more I think the idea of tapping new ATH prices is likely before having a corrective wave.