BTC - Accumulation or Short Buildup❗️

Hello TradingView Family / Fellow Traders,

BTC has been hovering within a narrow range marked in red around the $60,000 - $62,000 support zone.

Scenarios:

1️⃣ Bullish - Accumulation

For the bulls to take full control again, a break above the upper bound of the range is needed.

In this case, a movement towards the $69,000 resistance would be expected.

2️⃣ Bearish - Short Buildup

In parallel, if the $60,000 support is broken downward, we expect a bearish movement towards the lower bound of the orange channel around $55,000.

Which scenario is more likely to happen first? and why?

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

Good luck!

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~Richard Nasr

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