Bitcoin: Using Horizontal Pivots to Trade the Range

by Justin Bennett  · 

March 30, 2023

by Justin Bennett  · 

March 30, 2023

by Justin Bennett  · 

March 30, 2023


Bitcoin liquidated a few shorts overnight with a spike above the $28,900 macro resistance.

However, it didn’t stay there long and is once again back in the middle of this range.

Despite the choppy price action for the last two weeks, BTC has carved some incredibly clean horizontal levels, especially since the 24th.

This is ideal for scalpers and even those who prefer ranging markets.

Currently, Bitcoin is trading below the $28,130 pivot on an hourly and 4-hour closing basis.

That means any retest of $28,130 will likely attract sellers and could trigger another run at $27,650 support and potentially lower.

Alternatively, a 1-hour and 4-hour reclaim of $28,130 would open up $28,475; above that is the $28,900 macro resistance.

These are simple over/under scenarios, but it’s arguably the best way to trade BTC until momentum returns.

I often call these pivots, but not in the traditional sense of the word.

They’re “pivots” because they help decide whether we see the price of BTC continue in one direction or reverse.

Although we don’t have a confirmed direction, I have to remind everyone that there are far more long liquidations below the price than short liquidations above.

BTC liquidation heatmap
BTC liquidation heatmap

That doesn’t mean we can’t see higher prices in the short term.

But given Bitcoin’s propensity to gravitate toward liquidation clusters, it seems only a matter of time before we get a significant correction.

To summarize, our primary BTC range is between $26,500 support and $28,900 resistance with smaller ranges within it.

Just remember to wait for the close above or below these key levels to confirm that BTC has entered a new “mini” range.

Horizontal levels in the chart below include $26,500, $27,150, $27,650, $28,130, $28,470, and $28,900.

BTC key levels
BTCUSDT 1-hour time frame

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