$BTC broke out of its two-week box on Wednesday, then closed back inside it.
Yesterday I wrote that BTC had spent two weeks between 79,800 and 84,352: https://www.binance.com/en/square/post/379679292447119
What happened next:
- Wednesday high: 84,898, about 550 points above the box
- Wednesday close: 84,093, back under 84,352
- This morning: 84,335, sitting right on the edge
Same story as the wick through 83,169 earlier this week. Price pokes out, the close says no.
My lines:
- Daily close above 84,352: the range is done, and 85,650 then 87,220 are next
- Close back under 83,028, Wednesday's open: another fake-out
- Funding is 0.0002%. Nobody is crowded long into this.
NFA. Does today give us the close above 84,352, or another wick?
Yesterday I wrote that BTC had spent two weeks between 79,800 and 84,352: https://www.binance.com/en/square/post/379679292447119
What happened next:
- Wednesday high: 84,898, about 550 points above the box
- Wednesday close: 84,093, back under 84,352
- This morning: 84,335, sitting right on the edge
Same story as the wick through 83,169 earlier this week. Price pokes out, the close says no.
My lines:
- Daily close above 84,352: the range is done, and 85,650 then 87,220 are next
- Close back under 83,028, Wednesday's open: another fake-out
- Funding is 0.0002%. Nobody is crowded long into this.
NFA. Does today give us the close above 84,352, or another wick?