Crypto
Bitcoin Price Stabilizes Within $81-$74 Range After Impulsive Move
The price of BTC has cooled down after its impulsive move ten days ago. Currently, it's attempting to establish value within the $81-$74 range.
An analysis of the market suggests that a double distribution schematic with an HTF and LTF three drives pattern occurred in the past. This is accompanied by a local range distributing lower after the LTF three drives for the first time since the impulsive move.
Price has now fully accepted back into this range, resulting in a 4H bearish MSB (Moving Stop Buy). As long as BTC remains within this range, traders may consider adopting a 'range mentality,' where they short at the range high and long at the range low.