BTC - Accumulation or Short Buildup❗️
Hello TradingView Family / Fellow Traders,
BTC has been hovering within a narrow range marked in red around the $60,000 - $62,000 support zone.
Scenarios:
1️⃣ Bullish - Accumulation
For the bulls to take full control again, a break above the upper bound of the range is needed.
In this case, a movement towards the $69,000 resistance would be expected.
2️⃣ Bearish - Short Buildup
In parallel, if the $60,000 support is broken downward, we expect a bearish movement towards the lower bound of the orange channel around $55,000.
Which scenario is more likely to happen first? and why?
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Richard Nasr
BTC has been hovering within a narrow range marked in red around the $60,000 - $62,000 support zone.
Scenarios:
1️⃣ Bullish - Accumulation
For the bulls to take full control again, a break above the upper bound of the range is needed.
In this case, a movement towards the $69,000 resistance would be expected.
2️⃣ Bearish - Short Buildup
In parallel, if the $60,000 support is broken downward, we expect a bearish movement towards the lower bound of the orange channel around $55,000.
Which scenario is more likely to happen first? and why?
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Richard Nasr
Trading Made Simple; and Rule-Based
RichTL.com
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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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