Bitcoin – trading range and extreme fear

01.07.2022 4:04 pm

Hello, everyone!

I forgot about the strong demand zone on 4h timeframe, which was formed when the Bitcoin fell below $18k. Today I decided to open long, but local, because I changed my opinion again. I am still have the 20% of depo in Bitcoin as the tradevestment part.

Let’s take a look at the BTCUSDT chart of the WhiteBIT exchange. Yesterday we saw the huge bullish reaction from the 4h demand zone, which started with the imbalance candles on the 1h. Hence, the demand zone was also formed the 1h timeframe, I painted it on the chart. There is the high probability that we will see the pump again to the 4h supply zone, which is drawn with the red color.

I think that we will see the capitulation inside the range between $18k and $22k during next couple of months and I want to make money to trade inside this range.

Good luck!

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