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BTC in a Daily Range - Breakdown Likely?

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Bitcoin has been stuck in a range for the past 3 months. On the daily chart, it's hovering at the top. The Visible Range Volume Profile (VRVP) indicates a zone of high volume at $63k, suggesting this could be the next significant support level.

Analysis:

- Range: BTC has been trading within a range defined by $63k and $72k for 3 months.
- Top of Range: The current price is near the upper end of the range, hinting at potential resistance.
- VRVP: The VRVP highlights a high-volume zone at $63k, suggesting this level could act as support.
- Breakdown: If the price breaks below the range, $63k would be the first major support level to watch.
ノート
As predicted, Bitcoin dipped and found support around the $63k zone we identified earlier. The price briefly revisited $71k before this pullback.

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