BTC range to watch in short-term

20 feb 2023

BTC prices are right below the supply area around $25000. In short-term, this is an important key level to break (or to be rejected).

Obviously, we have a Supply area right above but there're supports below. So in my opinion, BTC will be ranging in the zone defined between $23500 - $25300, in the next days.

The range with interesting levels that I'm watching is displayed in chart.

What are your trading strategies and your plans in short-term and mid-term?

Thanks in advance for your comments.

20 feb 2023

Nota

I can see that in very short-term BTC is forming an ascending triangle.
Two possiblities: A or B?

21 feb 2023

Nota

BTC is still in the ascending triangle.
Since its being in this triangl, big moves has come US trading session and these were Sell action. However, we can see that sell volume has decreased each time.
Today's US session will decide the next main move of BTC in my opinion

21 feb 2023

Nota

The ascending triangle was broken down.
Probably BTC will go down to the range's Low

22 feb 2023

Nota

As mentionned above, the B scenario is possible for BTC. Prices are now in the lower part of this range.
I think that BTC could deviate from the range and go as low as $23000

23 feb 2023

Nota

My expected short-term target is still at the deviation support area around $23000.
Today, ther are two green candle with very good volume, however the bodies of these green candle are not as long as previous ones with the same volume.