Bitcoin has been sitting in a larger consolidation/accumulation range for several weeks now. The particular aspect that I am interested in currently is the lower portion of this range (shown in the yellow-orange box on chart). This side of the range has had many more price visits, but price has never actually broken lower. This means that liquidity continues to build below these levels.
I am currently monitoring this range to set up for a larger swing trade, it simply depends on which side of the range gets cleared first. If price actually clears the lower side liquidity, I would be looking to take a swing long position as the weekly chart shows a lot of underlying buy pressure. If the top side of the range is broken/cleared first, I will be keeping a heavy eye on the lower-side of this range to get revisited at some point in the future.
Bitcoin has been sitting in a larger consolidation/accumulation range for several weeks now. The particular aspect that I am interested in currently is the lower portion of this range (shown in the yellow-orange box on chart). This side of the range has had many more price visits, but price has never actually broken lower. This means that liquidity continues to build below these levels.
I am currently monitoring this range to set up for a larger swing trade, it simply depends on which side of the range gets cleared first. If price actually clears the lower side liquidity, I would be looking to take a swing long position as the weekly chart shows a lot of underlying buy pressure. If the top side of the range is broken/cleared first, I will be keeping a heavy eye on the lower-side of this range to get revisited at some point in the future.