Bitcoin current channel analysis

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Few things to point out on current BTC value range.

So far BTC is in a 42 day 13-15% range with an upper excess of 5%.

This time in channel is above the typical 13-15% value range timeframe.

Generally when BTC enters a range from the low it has a higher probability of ending the range with a break to the high of the range.

If we measure the value range from the excess level we see that currently BTC is sitting at the 50% mark of the value range.

Things to watch:

Watch lower time frames around the 50% overall value range. That holds good chance there is an impulse up.

50% of the breakdown candle is another important level to watch.

Open of breakdown candle the final level.

Be prepared if price stalls short of either level there could be an impulse move either way. I'd watch for a upward move as more probable but look for signs around key market times (NY open, overnight, etc).

Finally, BTC generally fights tough upward challenge after a large red candle as we see here. Especially on the first push.

At this current point in the chart I find no edge either short or long. Either your in the trade now or you're waiting for more price data. Or well you're trading a lower timeframe which should be ripe for swing trades.