BTC/USD TRADING CHART

BTC/USD

Price is still in its sideways range ($19500 -$20500), with Bearish CVD still building up. ( See next post)

This lack of volatility makes me believe that a big move is imminent.

We now have a weekly level formed at $19545, an area the bulls have defended on three separate occasions.

We can now assume that a lot of stops (liquidity ) are located below this level. This could be an opportunity for the price to take the stop losses located below $19500.

In the above post, I have drawn a potential scenario that could play out; the reasoning behind this is that a dip under support followed by a swift recovery would wreck most traders.

We also have a daily level located at $19289, which is also the last line of defense for the bulls.

PS: Not a financial advise.

Do your research very deep and take necessary decision at your own risk.

Wishing you a successful trading day

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