$BTC STUCK IN A RANGE: BREAKOUT OR FAKEOUT? 👀
Bitcoin has been range-bound between roughly $83,500 and $86,600, with moving averages acting as support. (binance)
When price moves sideways for days, two things usually happen: traders get impatient and over-leverage, and liquidity builds on both sides of the range.
📊 What I'm watching:
• A clean daily close above the top of the range
• A breakdown below the range low
• Funding rates and liquidations around both levels
Historically, October ("Uptober") has been green in six of the past eight years, but history is not a guarantee. I'd rather wait for confirmation than guess the direction. (binance)
Which way breaks first, up or down? 👇
#Bitcoin #BTC #CryptoMarket #Uptober #BinanceSquare
DYOR. Not financial advice.
Bitcoin has been range-bound between roughly $83,500 and $86,600, with moving averages acting as support. (binance)
When price moves sideways for days, two things usually happen: traders get impatient and over-leverage, and liquidity builds on both sides of the range.
📊 What I'm watching:
• A clean daily close above the top of the range
• A breakdown below the range low
• Funding rates and liquidations around both levels
Historically, October ("Uptober") has been green in six of the past eight years, but history is not a guarantee. I'd rather wait for confirmation than guess the direction. (binance)
Which way breaks first, up or down? 👇
#Bitcoin #BTC #CryptoMarket #Uptober #BinanceSquare
DYOR. Not financial advice.