A fair few crypto currencies are currently stuck in a range against BTC at the moment but showing bullish signs.
Still a bit to clear yet but the momentum is pushing these coins to the upside towards the resistance of the range.
Chasing the trades from here could be lo probability but the confirmation of a break out of this range could see us move higher with an impulsive if it can reclaim resistance as support.
Downside potential is breaking the lows of support of this range and possibly forcing price towards the next support, unless we get a bounce on the bottom of this range.
Overall the bulls are on the side right now but dont be expecting fireworks until we break the top of the range so could just be a short term trade for now.
Still a bit to clear yet but the momentum is pushing these coins to the upside towards the resistance of the range.
Chasing the trades from here could be lo probability but the confirmation of a break out of this range could see us move higher with an impulsive if it can reclaim resistance as support.
Downside potential is breaking the lows of support of this range and possibly forcing price towards the next support, unless we get a bounce on the bottom of this range.
Overall the bulls are on the side right now but dont be expecting fireworks until we break the top of the range so could just be a short term trade for now.