BTC 1H - DIRECTIONLESS, IN TIGHT RANGE CONSOLIDATION
# There is no clear direction for BTC right now. It's currently trading below 50 and 100 EMAs. This consolidation period could take 48 hours or more and in current condition, we could only look at scalping opportunity.
# Traders still looking for buying opportunity, particularly at 10500-10600, where 11000 is the level to watch. Our daily and weekly chart analysis (see below) mentioned the medium/longer term overview which still favors a bullish condition.
# Our personal bias is to stay sidelined until the opportunity to make a buy arise. Selling is a bit risky, since we don't want to go against a major trend. Our view will change if 10500 is broken, and if we see a formation of lower low and lower high.
DYOR Always
# Traders still looking for buying opportunity, particularly at 10500-10600, where 11000 is the level to watch. Our daily and weekly chart analysis (see below) mentioned the medium/longer term overview which still favors a bullish condition.
# Our personal bias is to stay sidelined until the opportunity to make a buy arise. Selling is a bit risky, since we don't want to go against a major trend. Our view will change if 10500 is broken, and if we see a formation of lower low and lower high.
DYOR Always
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