Will BTC goes back up, falls down further, or go sidways?
GM, on 24 aug 2024, BTC went over 64k for several days topping at 65k before falling back in range of below 60k and now looks like it's ranging between the discount and premium zone of 58k to 62k.
there seems to have 3 probabilities of how it would turn out.
BTCUSD will go sideways within the range between the discount and premium zone therefore having mean reversion trading strategy opportunities between the zones.
BTCUSD goes for a breakout above the premium zone above 62.3k, there'll be opportunities to trade long.
BTCUSD goes for a breakout below the discount zone below 58k, there'll be opportunities to trade short.
always DYOR, this is not a financial advice, always remember to practice risk management for your own trades.
there seems to have 3 probabilities of how it would turn out.
BTCUSD will go sideways within the range between the discount and premium zone therefore having mean reversion trading strategy opportunities between the zones.
BTCUSD goes for a breakout above the premium zone above 62.3k, there'll be opportunities to trade long.
BTCUSD goes for a breakout below the discount zone below 58k, there'll be opportunities to trade short.
always DYOR, this is not a financial advice, always remember to practice risk management for your own trades.
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