It's been 5 days since BTC is consolidating between 29400 and 28800$. Consolidation range is narrowing, that is why we can see almost zero volatility on the coin. Usually, after long consolidation we can expect a big move. Will this be move positive or negative - hard to say. because currently the situation is 50/50
Personally I would like to see downtrend scenario, and for this I have several reasons as: SPX currently shows Bearish move, USDT.D looks pretty bullish, news around Huobi exchange. All this can trigger BTC to go down towards 27 - 26K $.
At the same time, if we will see a breakout through 29600$ (from the current price) and consolidation above this level, this will mean, that BTC will increase in the price towards to 32000$ where we can see weekly FVG.
You can take hedge long and short positions on BTC.
Just dont forget to follow RM!
Personally I would like to see downtrend scenario, and for this I have several reasons as: SPX currently shows Bearish move, USDT.D looks pretty bullish, news around Huobi exchange. All this can trigger BTC to go down towards 27 - 26K $.
At the same time, if we will see a breakout through 29600$ (from the current price) and consolidation above this level, this will mean, that BTC will increase in the price towards to 32000$ where we can see weekly FVG.
You can take hedge long and short positions on BTC.
Just dont forget to follow RM!