$BTC Daily Range Battle Between Bulls & Bears!

[nihalsari]

BTC remains bearish on all timeframes.

On daily TF, it has been range-bound for the past 28 days chart shown is a “noise-free” mean only candle bodies are considered, no wicks, so it’s easier to read.

• Range High: 93,430
• Range Low: 84,738

As long as price respects range low and daily candle closes above it, there is still a chance for
BTC
to push upwards towards mid-range and possibly range high.

However, if price closes below the range low, higher probability of sweeping previous wick candle low (at 80,641) increases, and body-wise support around 76,322 may be tested.

Keep in mind, this is a “do-or-die” zone bcoz December was mostly a low-volume, manipulated month. There is a chance this month may also remain range-bound.

Remember, crypto is not a stable market patience is key. Those without patience cannot survive here. +5% BTC pump often causes altcoins to pump +10-15%, and inexperienced traders may think it’s an alt season and buy near the top.

When BTC retraces -5%, alts can retrace -20-25%, leaving portfolios stuck.

Tip from my side: You can take trades, but never trade without a proper stoploss.

[Nahid Hossen]

BTC is clearly undecided right now, both sides are testing patience.