BTC - Correction Started ❗️

Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

As per my last analysis (attached on the chart), we know that the correction already started as BTC broke below the last H1 low.

Now what?

🏹 BTC is still overall bearish, and we are expecting a movement till the lower bound of the orange channel which is also lining up with the previous daily low in green.

📈 As per my trading style:
As BTC approaches the purple circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)

UNLESS the green daily low is broken downward. In this case a deeper correction movement till the 25,000 support would be expected.

Which scenario do you think is more likely to happen first? and why?

📚 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich

TheSignalyst

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TheSignalyst

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