Yesterday, Bitcoin tried to break out above but didn't succeed, instead, it faced pressure and dipped back to the 3000 level. Right now, this position is just around the area we previously mentioned as a good spot to set up for a bullish play, near 76000. The opportunity is there for us to align with the trend, and the market has been showing some choppy action lately. Since we’re just hanging around, it’s a good time to consider some trading strategies.
From a technical standpoint, we've just completed a pullback on the 4-hour chart. The short-term trend has formed a bottom and is now starting to adjust upwards. Looking at external factors, liquidity is currently very thin. Unless we get some news to spark movement, it’s unlikely we’ll see a significant breakout anytime soon. We’re likely to continue forming a range; in a sideways market, we play it accordingly.
Bitcoin trading suggestion: 65800 target 67000 #BTC $BTC 683
From a technical standpoint, we've just completed a pullback on the 4-hour chart. The short-term trend has formed a bottom and is now starting to adjust upwards. Looking at external factors, liquidity is currently very thin. Unless we get some news to spark movement, it’s unlikely we’ll see a significant breakout anytime soon. We’re likely to continue forming a range; in a sideways market, we play it accordingly.
Bitcoin trading suggestion: 65800 target 67000 #BTC $BTC 683
