BTC - Reversal OR Continuation?
The last couple of days / weeks were truly boring.
BTC has been stuck inside our gray range, and the last couple of days, that range is contracted to form range within a range.
The longer the consolidation, the more aggressive the movement would be after the breakout. So be prepared!
The question is... which way?
Scenario 1: Trend Reversal
For the bulls to take over, we need a daily momentum candle close above the upper bound / gray zone.
In this case, a movement till the upper resistance zone 38k - 40k would be expected.
Scenario 2: Trend Continuation
For the bears to take over, we need a daily momentum candle close below the lower bound / gray zone.
In this case, a movement till the lower demand zone resistance 18k - 20k would be expected.
Which scenario do you think is more likely to happen? and Why?
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
BTC has been stuck inside our gray range, and the last couple of days, that range is contracted to form range within a range.
The longer the consolidation, the more aggressive the movement would be after the breakout. So be prepared!
The question is... which way?
Scenario 1: Trend Reversal
For the bulls to take over, we need a daily momentum candle close above the upper bound / gray zone.
In this case, a movement till the upper resistance zone 38k - 40k would be expected.
Scenario 2: Trend Continuation
For the bears to take over, we need a daily momentum candle close below the lower bound / gray zone.
In this case, a movement till the lower demand zone resistance 18k - 20k would be expected.
Which scenario do you think is more likely to happen? and Why?
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Trading Made Simple; and Rule-Based
RichTL.com
Instagram:
instagram.com/richthesignalyst
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t.me/thesignalyst
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RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram:
t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
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