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BTC - Ready For Some Action?
Bitcoin / Tether
BTC - Ready For Some Action?
By TheSignalyst
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May 29
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May 29
Hello TradingView Family / Fellow Traders,
As per my last analysis, BTC rejected the $60,000 support and traded higher.
What's next?
Scenarios:
1️⃣ Bullish - Continuation
For the bulls to maintain control, a break above the $72,000 resistance is needed.
In this case, a movement towards the $80,000 resistance would be expected.
2️⃣ Bearish - Correction
In parallel, if the last low marked in red is broken downward, we expect the bearish correction to start leading to a movement towards $60,000.
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
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