BTCUSD 8H: Locked in range / Short TP 55 000 usd

25 ก.ย.

🔸Hello traders, today let's review 8hour price chart for BTCUSD and potential reversal zones. So far price remains locked in tight trading range since March 2024, range highs set at 68 000 USD and range lows at 57 000 USD.

🔸Premium prices overhead at 71 500 / 74 000 USD and below at 55 000 / 53 000. Currently trading mid-range so no trades recommended in this zone.

🔸Ongoing compression in a tight range and low volatility ongoing since March 2024. This suggests that we are in accumulation/distribution stage right now and eventually range breakout will result in a high volatility move. Until then though makes sense to focus on trading range highs and range lows.

🔸Recommended strategy for position traders: Wait for price to max out near range highs and get ready to short from premium levels. Conservative TP on sell side at 55 000 USD.

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Trading Futures , Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results.
Always limit your leverage and use tight stop loss.

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