BTC Daily Update Sep. 30, 2022

in hive-146573 •  2 years ago  (edited)

Hello traders!

Bitcoin is still in the same range however, looking at the FIB time and fan tools, it seems we are at the end of this range. We should break the range today or tomorrow. Since tomorrow is Saturday, I think it will happen today.
The same levels are intact, but now I see a slightly different set of scenarios playing out. If price goes up, I think it will violate the double top zone and go right to the liquidity area and then back down (and fast). Contrarily, if it goes down, I don't think support at 18,689 will not hold again. It has been tested a lot of times. I will not be looking for another long trade at that level unless it shows real strength through price action and volume.

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Let's see what happens. As a range trader it really doesn't matter which way it breaks because at every level we put a long trade at the bottom of the range and a short trade at the top of the range, so either way we make money.
Have a great day of trading.
KryptoKino over and out.
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It did not violate the double top area as I thought it would (yet), but nonetheless it did have a nice reaction for a good little trade...
Take a look at my previous post: https://steemit.com/hive-146573/@kryptokino/btc-daily-update-sep-28-2022
The level hit today was marked out 2 days ago! Almost exactly!

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