BTC - Key Rejection Zone!

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

BTC rejected the 30,000 resistance zone and now trading lower for a bearish correction.

If BTC breaks below 27,000 previous major low, we will expect a movement till 25,000 zone where we will be looking for long-term trend-following buy setups.

🏹 Here is why the 25,000 zone marked by red circle is a strong support:
1- Round number => 25,000
2- Classic Resistance Zone Turned Support
3- Lower red trendline acting as a non-horizontal support
4- Lower orange trendline acting as a non-horizontal support
5- Demand zone

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

📚 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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