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Bitcoin: Using Horizontal Pivots to Trade the Range
Bitcoin liquidated a few shorts overnight with a spike above the $28,900 macro resistance. However, it didn’t stay there long and is once again back in the middle of this range. Despite the choppy price action for the last two weeks, BTC has carved some incredibly clean horizontal levels, especially since the 24th. This is ideal for scalpers and even those who prefer ranging markets. Currently, Bitcoin is trading below the $28,130 pivot on an hourly and 4-hour closing basis. That means any retest of $28,130 will likely attract sellers and could trigger another run at $27,650 support and potentially lower. ... (full story)
