Bitcoin ranging since the last 80 days! , when breakout? (Read to find out) - 8/02/2025

BITCOIN UPDATE In my previous update i mentioned that bitcoin was inside a chop zone and there were no signs of trend reversals. We have experienced the extremes of the sideways range(88k,110k) since then but the scenario somewhat remains the same. Bitcoin is still sideways, Altcoins have been bleeding for a while and there is no real/good trade to take. It has now been about 80 days since the range was formed.I have plotted some fresh levels on the chart , I recommend keeping an eye on them . The lower zone of the sideways range is 90k6 and the upper zone 106k5. Bitcoin has tried to break these zones but was unsuccessful. These wicks on the chart shows lack of strength, For Fake breakdown , there is lack of sellers. For fake breakout there is lack of buyers. Recent events which include the launch of TRUMP meme coin has swept liquidity from the market a lotTECHNICAL INDICATORS For those who have been reading my post for long time must have noticed that I prefer using two indicators mostly. RSI(relative strength index) and EMA(exponential moving averages)Daily timeframe:-The EMA 100 and 200 are plotted on the chart. These EMA's works as dynamic support and resistances. The EMA 200 is at 80k and EMA 100 nearly at 93k2, At present both EMA of them are working out as supports. The distance between them shows strong uptrend. RSI is at 42 with no divergences(neutral scenario)4 hour timeframe:- In the 4 H time frame the EMA are working as resistance. It's not a major bearish signal as we are in sideways CHOP ZONE and it is very usual for EMA's to flip between support and resistances in the lower time frame during sideways market. We can ignore this. RSI is neutral and has no divergences as of nowFEAR GREED INDEXCurrently the fear greed index is at 44 which marks fear in the market. A very common preaching that the traders follow is to buy when others fear and sell when others are greedy. There is one thing I always add to this, which is the word prolonged. Prolonged fear , prolonged greed creates big opportunities for buy and sell. According to the present context, the more we range near the 90k zone the more fear kicks in the market and vice versa for 106k5.CONCLUSIONBitcoin continues to stay CHOP ZONE or sideways. No signs of trend reversals as of now. We will continue to look for special altcoins to trade during this period. Long term holders stay unaffected. We cannot predict/know how long it will take in the range, All we can do is preserve capital for the right time to come.HAPPY TRADING!!!Hope you liked our post! We’d love to hear your thoughts—your feedback means a lot to us and helps us get even better. Let’s stay in touch!!Rumman

Bitcoin ranging since the last 80 days! , when breakout? (Read to find out) - 8/02/2025

Bitcoin ranging since the last 80 days! , when breakout? (Read to find out) - 8/02/2025

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