BTC - Make or Break Zone!
Updated
Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈 After rejecting the $70,000 round number, BTC has been overall bearish trading within the falling channel marked in red.
Currently, BTC is hovering around the lower bound of the channel which is lining up perfectly with the $50,000 round number.
🏹 The highlighted blue circle is a strong rejecting area to expect the bulls to kick in from.
📉 However, if the $50,000 fails to hold, a bearish continuation towards the $40,000 demand zone 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
📈 After rejecting the $70,000 round number, BTC has been overall bearish trading within the falling channel marked in red.
Currently, BTC is hovering around the lower bound of the channel which is lining up perfectly with the $50,000 round number.
🏹 The highlighted blue circle is a strong rejecting area to expect the bulls to kick in from.
📉 However, if the $50,000 fails to hold, a bearish continuation towards the $40,000 demand zone 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
Trade closed: target reached
Trading Made Simple; and Rule-Based
RichTL.com
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RichTL.com
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
Best Crypto Exchange
coincall.com/r/thesignalyst
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