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
관련 발행물
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
📊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
관련 발행물
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.