BTC - Correction Started! Till When/Where? 🛬
Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
As per my last analysis (attached on the chart), we know that BTC has been sitting around a strong resistance/supply zone. And we were waiting for the bears to kick in by breaking below the previous low.
📉 The bears took over by breaking below the H1 head and shoulders neckline and lower trendline from H4.
Now What?
BTC is currently retesting the previous major Daily low in green, if broken downward, expect further bearish movement till the 24k-25k support zone.
🏹 The bears will remain in control short-term UNTIL the bulls kick in by breaking above the last high (around 28,000)
Which scenario do you think is more likely to happen first? and why?
đź“š 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), we know that BTC has been sitting around a strong resistance/supply zone. And we were waiting for the bears to kick in by breaking below the previous low.
📉 The bears took over by breaking below the H1 head and shoulders neckline and lower trendline from H4.
Now What?
BTC is currently retesting the previous major Daily low in green, if broken downward, expect further bearish movement till the 24k-25k support zone.
🏹 The bears will remain in control short-term UNTIL the bulls kick in by breaking above the last high (around 28,000)
Which scenario do you think is more likely to happen first? and why?
đź“š 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
Telegram:
t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram:
t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
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