Now we’ve spent roughly 75 days building a range inside the range, and lately it’s getting squeezed even tighter right around the monthly open.
This is the kind of spot I love as a trader. Not because I’ve loved trading every minute of it. There’s been opportunity here and there, but honestly, most of this range was probably better spent trading stocks or playing golf.
And I don’t love it because I know whether $73K or $58K comes next. NOBODY knows what comes next with certainty. Trading has never been about certainty.
What I love is that the chart has reached maturity.
What started 75 days ago with sellers running out of steam, but buyers still unable to take control, has now developed into a market that’s simply running out of room. The levels that would prove control are getting easier to see.
If you find a good lower-timeframe trade inside the range, take it. Just don’t marry it.
The beautiful part is you don’t have to be early or right about the first break. Once one side actually proves control, there’s plenty of runway before the larger levels on either side.
Let the impatient traders guess.
Compression eventually becomes expansion.
For a prepared trader, volatility isn’t something to fear, it’s what we’ve been waiting for.
#BTCPerpFundingRateHits20MonthHigh
