Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
đź“Śon Daily: Left Chart
BTC is currently bullish trading inside the red rising broadening wedge pattern.
Here is why the 30,000 is a strong rejection:
1- Round number => 30,000
2- Classic Support Zone Turned Resistance from Weekly timeframe
3- Supply zone marked on the chart
4- Intersecting with the upper red trendline acting as a non-horizontal resistance
📉 Hence, as BTC approaches the 30k - 32k zone, we will be expecting the bears to take over for a medium-term correction.
đź“Śon H4: Right Chart
For now, we will remain bullish as long as BTC doesn't break a previous major low.
The current last major low is highlighted in gray around 26,700
📉 If we break below 26,700 expect a bearish correction to start till around 25,000 support / demand.
Which scenario do you think is more likely to happen first? and why?
đź“š Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
đź“Śon Daily: Left Chart
BTC is currently bullish trading inside the red rising broadening wedge pattern.
Here is why the 30,000 is a strong rejection:
1- Round number => 30,000
2- Classic Support Zone Turned Resistance from Weekly timeframe
3- Supply zone marked on the chart
4- Intersecting with the upper red trendline acting as a non-horizontal resistance
📉 Hence, as BTC approaches the 30k - 32k zone, we will be expecting the bears to take over for a medium-term correction.
đź“Śon H4: Right Chart
For now, we will remain bullish as long as BTC doesn't break a previous major low.
The current last major low is highlighted in gray around 26,700
📉 If we break below 26,700 expect a bearish correction to start till around 25,000 support / demand.
Which scenario do you think is more likely to happen first? and why?
đź“š Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
đź“ŠI 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
Declinazione di responsabilitĂ
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
đź“ŠI 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
Declinazione di responsabilitĂ
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.