BTCUSD: Range Approximation

This chart suggests that the BTCUSD market is currently in a ranging state.

We have tried to identify supply and demand zones in this range environment.

The suggested levels are as follows:

• [* ] High teens for increasing long exposure
  [* ] Around 28k squaring off long positions
  [* ] Sit out the area in the middle
  

This kind of price behavior is expected as the market participants are going through range normalization after the price discovery stage.

Trade with care and own your risk.