Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
As per my last analysis (attached on the chart), BTC rejected the the 18k resistance and upper red trendline of the channel.
Now What?
We are still overall bullish trading inside the rising channel, and we currently entered a correction movement.
As BTC approaches the lower bound / lower red trendline, we will be looking for buy setups.
And this lower trendline also intersects with the previous highs marked in gray which makes the zone stronger.
As per my trading style:
As Bitcoin approaches the lower purple circle zone, I will be looking for bullish reversal setups on lower timeframes (like a double bottom pattern, trendline break , and so on...)
We would be overall bullish, UNLESS we break below the orange zone, in this case a movement till the lower bound of the range (around 15500) would be expected.
Which scenario do you think is more probable and why?
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
As per my last analysis (attached on the chart), BTC rejected the the 18k resistance and upper red trendline of the channel.
Now What?
We are still overall bullish trading inside the rising channel, and we currently entered a correction movement.
As BTC approaches the lower bound / lower red trendline, we will be looking for buy setups.
And this lower trendline also intersects with the previous highs marked in gray which makes the zone stronger.
As per my trading style:
As Bitcoin approaches the lower purple circle zone, I will be looking for bullish reversal setups on lower timeframes (like a double bottom pattern, trendline break , and so on...)
We would be overall bullish, UNLESS we break below the orange zone, in this case a movement till the lower bound of the range (around 15500) would be expected.
Which scenario do you think is more probable and why?
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
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.
📊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
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.