BTC - Correction Phase Started 📉📈
Updated
Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈 After breaking below $70,000, BTC started the bearish correction phase.
As long as the $70,000 resistance holds, we anticipate a movement towards the lower bound of the red wedge pattern.
Moreover, the $60,000 - $62,000 range is a massive support zone.
🏹 Thus, the highlighted red circle is a strong area to look for buy setups as it is the intersection of the blue support and lower red trendline.
📚 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
📈 After breaking below $70,000, BTC started the bearish correction phase.
As long as the $70,000 resistance holds, we anticipate a movement towards the lower bound of the red wedge pattern.
Moreover, the $60,000 - $62,000 range is a massive support zone.
🏹 Thus, the highlighted red circle is a strong area to look for buy setups as it is the intersection of the blue support and lower red trendline.
📚 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
Note
BTC is now approaching our rejection zone 60k-62k.Thus, we will start looking for bullish reversal setups on lower timeframes to confirm bullish control.
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instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
Best Crypto Exchange
coincall.com/r/thesignalyst
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