Analysis of BitcoinBitcoin / U.S. dollarBITSTAMP:BTCUSDPouyanFaThe price has been stuck in a range for a long time after that famous heavy drop, and it hasn’t been able to break the channel’s midline for quite a while. There are two possible scenarios: * **My preferred scenario** is that the price breaks the midline of the range, makes a pullback, and then we open a position anticipating a breakout above the channel’s top. This approach is risky, because there’s a chance the price could get rejected at the top. * **The second scenario**, which can be very frustrating, is that the price breaks the bottom of the range. In that case, it could be quite annoying, and our position might stay open for a long time. My preference is to take a **long position**, but only after the midline breakout is confirmed. We’re keeping a close eye on Bitcoin so we don’t miss the trigger if it occurs.