Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
In the 1930s, economist John Maynard Keynes said: “Markets can stay irrational longer than you can stay solvent." Unfortunately, that bit of wisdom remains true today.
BTC has been overall bearish for longer than we can stay solvent, at least we are trying to remain objective… aren't we?
BTC is trading inside a big wedge pattern showing us the overall flow of the market.
Last week, BTC rejected the upper brown trendline, acting as a non-horizontal resistance, and broke below the 20k horizontal support.
For now, the next main rejection / support zone that might hold BTC up, is around the 10k - 12k zone.
If this first support doesn't hold, which I also referred to as Floor 1, then a dive inside the Ground Floor would be expected.
BTC would invalidate this long-term bearish trend, by breaking back above the 20k zone, for the bulls to be able to take over from a short-term perspective.
What do you think? Which Floor is going to hold BTC?
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
In the 1930s, economist John Maynard Keynes said: “Markets can stay irrational longer than you can stay solvent." Unfortunately, that bit of wisdom remains true today.
BTC has been overall bearish for longer than we can stay solvent, at least we are trying to remain objective… aren't we?
BTC is trading inside a big wedge pattern showing us the overall flow of the market.
Last week, BTC rejected the upper brown trendline, acting as a non-horizontal resistance, and broke below the 20k horizontal support.
For now, the next main rejection / support zone that might hold BTC up, is around the 10k - 12k zone.
If this first support doesn't hold, which I also referred to as Floor 1, then a dive inside the Ground Floor would be expected.
BTC would invalidate this long-term bearish trend, by breaking back above the 20k zone, for the bulls to be able to take over from a short-term perspective.
What do you think? Which Floor is going to hold BTC?
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
📊I help you turn charts into a career
theSignalyst.com
Telegram
t.me/thesignalyst
Trusted Crypto Exchange
cutt.ly/qtwKuPaJ
Trusted CFD Broker
cutt.ly/TickmillReal
Trusted Crypto Prop Firm
cutt.ly/Hyrotrader
theSignalyst.com
Telegram
t.me/thesignalyst
Trusted Crypto Exchange
cutt.ly/qtwKuPaJ
Trusted CFD Broker
cutt.ly/TickmillReal
Trusted Crypto Prop Firm
cutt.ly/Hyrotrader
相关出版物
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。
📊I help you turn charts into a career
theSignalyst.com
Telegram
t.me/thesignalyst
Trusted Crypto Exchange
cutt.ly/qtwKuPaJ
Trusted CFD Broker
cutt.ly/TickmillReal
Trusted Crypto Prop Firm
cutt.ly/Hyrotrader
theSignalyst.com
Telegram
t.me/thesignalyst
Trusted Crypto Exchange
cutt.ly/qtwKuPaJ
Trusted CFD Broker
cutt.ly/TickmillReal
Trusted Crypto Prop Firm
cutt.ly/Hyrotrader
相关出版物
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。