BTC entering a new range
Bitcoin / TetherUS BINANCE:BTCUSDT
BTC is entering a new range between 40 500 and 38620. The 40 500 line is also confluent with 4h 200EMA. To trade this, we will wait for the breakout in either direction. If it breakout of 40 500, it will likely test 45k. If it break down, it will likely test 35 500.
SPY is also testing its 200 day EMA and if it gets rejected from that, BTC is most likely going to break down. On the other hand, DXY is getting rejected from its daily resistance.
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source https://www.smartmoneymanagement.info/2022/02/btc-entering-new-range.html
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