Cryptocurrencies Stuck in Ranges: Bitcoin Rangebound Trading and Ethereum's Lows Swept
Bitcoin has remained within a specific price range for three weeks in a row. The cryptocurrency's chart shows accumulation, forming dense liquidity pools on both sides of the current ranges.
The reversal occurred at $82,282.8, with buyers short by $546 to activate the daily price imbalance (Daily FVG) at $82,828-$84,000. The May high at $82,828.7 remained untouched, and the current structure forms a double resistance barrier: last week's high (PWH) at $82,282.8 and the May high at $82,828.7.
On the downside, the picture remains frozen, with the nearest support being the fresh Daily FVG at $77,000-$78,000. Below it sits a dense cascade of unfilled zones, including last week's low (PWL) at $76,151.9 and historical milestones from 2024 and 2021.
Ethereum has shown similar dynamics but with a focus on the lower boundaries. The chart successfully swept local PWL lows, updating the weekly low at $2,355.12, but failed to enter the 4H FVG zone.
Market analysts are cautioning about risk-management rules due to the current positioning of quotes in the middle of the ranges. Short positions built from the upper boundaries remain relevant, and decision points are located exclusively at the edges of the ranges.