Bitcoin has been trading in the $80,000–$94,000 range for over two months.
Since yesterday, it has broken above $94,000, entering a new range between $94,000 and $106,000.
When price enters a new range, it often tests the opposite end of that range, in this case, around $105,000–$106,000.
This means that if we see a retest around $95,000, it could be a good opportunity to enter a long position, with a stop-loss below $94,000. Using this approach, you should be able to generate some profit.
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Bitcoin has been trading in the $80,000–$94,000 range for over two months.
Since yesterday, it has broken above $94,000, entering a new range between $94,000 and $106,000.
When price enters a new range, it often tests the opposite end of that range, in this case, around $105,000–$106,000.
This means that if we see a retest around $95,000, it could be a good opportunity to enter a long position, with a stop-loss below $94,000.
Using this approach, you should be able to generate some profit.