#BTC $BTC
Why am I not ready to enter a trade right now — in either direction?
On the chart, I’ve marked the range Bitcoin has been trading in for almost two months: the green zone is support, and the red zone is resistance.
According to the classic rules of range trading, Bitcoin already made a false breakdown to the downside — I’ve marked it with the oval at the bottom — and then moved back toward the upper boundary of the range.
Right now, price is sitting near resistance.
Going LONG here is risky because we’re already at the upper boundary. But at the same time, a SHORT is also not an ideal setup yet.
Why?
We haven’t seen a false breakout to the upside, and above the current price there are two — or, more precisely, three — price-gap zones that can act as a magnet for price.
At the same time, these gaps could also be filled later during an aggressive bullish move.
So for now, I’m staying out of the trade and waiting for confirmation.
No need to force an entry when the setup isn’t clear.
Instead, I’ll be looking for opportunities on other assets where the structure and entry conditions are more defined.
⚠️ Not financial advice — this is my personal view of the market.
Why am I not ready to enter a trade right now — in either direction?
On the chart, I’ve marked the range Bitcoin has been trading in for almost two months: the green zone is support, and the red zone is resistance.
According to the classic rules of range trading, Bitcoin already made a false breakdown to the downside — I’ve marked it with the oval at the bottom — and then moved back toward the upper boundary of the range.
Right now, price is sitting near resistance.
Going LONG here is risky because we’re already at the upper boundary. But at the same time, a SHORT is also not an ideal setup yet.
Why?
We haven’t seen a false breakout to the upside, and above the current price there are two — or, more precisely, three — price-gap zones that can act as a magnet for price.
At the same time, these gaps could also be filled later during an aggressive bullish move.
So for now, I’m staying out of the trade and waiting for confirmation.
No need to force an entry when the setup isn’t clear.
Instead, I’ll be looking for opportunities on other assets where the structure and entry conditions are more defined.
⚠️ Not financial advice — this is my personal view of the market.