Before we get started, why not join my telegram channel for news, trading insight and trading signals? It's all free! Join here!

This article is sponsored by Bybit! Bybit was kind enough to sponsor this article, and give a great deal for my readers. Everyone who uses this link to register for a bybit account gets $20 free to trade with. I'll also be giving signals on what to trade specifically for Bybit pairs, so make sure you use the link now! It's free money.

Now let's get started.

Some time last month, I urged everyone to focus on these price analysis articles. From the time I did that to today, if you had followed the direction I gave, you'd have been up 70% on your account with a maximum of 15x leverage. Which is awesome.

Yesterday however, I gave an analysis which stated that BTC was likely to test the range lows today. And that was exactly what happened today.

Range low was tested, with a sweep of lower liquidity. Let's take a look.

Being a Bitcoin bull was frustrating today. Luckily, I wasn't a bull 🐻.

Bitcoin swept the range high before moving towards downward liquidity. Upon reaching the range low as expected, it is now unclear as to what would happen now.

Regular analysis indicates that we should go short, but it seems unlikely we drop from here. At least not immediately.

I predict that we chop around the important levels before we begin to make any serious moves.

As I also stated yesterday, it is 100% unsafe to be in altcoins right now. We saw how that turned out.

Many "analysts" on this site were yelling "buy the dip", however I have you the right advice: Wait.

These dips aren't the ones you should buy. It always pays to be patient while trading, and this case is no exception.

So what's the TL:DR?

• Price is unstable right now.
• I expect chop around the range low which would lead to either a rapid move up or a slow grind down.
• Put your eyes away from altcoins.

Thanks for reading!

If you enjoyed the post, a like and tip would be amazing. Also follow me for more articles like this!

Till next time.