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BTC - Correction Phase Almost Done 👌Hello TradingView Family / Fellow Traders, Based on my recent BTC analysis (attached on the chart), we anticipated the onset of a bearish correction around the upper boundary of the channel, unless there is an upward break of the last high marked in red. 📉 BTC fell short of surpassing the previous minor high and, instead, was rejected at the upper bound of the channel, leading to a subsequent decline. 📈 Currently, BTC is approaching the lower boundary of the channel. As a result, we will be on the lookout for trend-following buy setups, knowing that BTC might still test the lower red trendline before the bullish trend resumes. 📉 We will be on the lookout for buy setups unless there is a downward break of both the lower red trendline and the 40,000 level. In such a scenario, we anticipate a medium-term shift in momentum from bullish to bearish. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Richard Nasr
by TheSignalyst
50
The Triangle Of The Year => BTC 🏆Hello TradingView Family / Fellow Traders, 🏹 After a 50% surge from 25,000 to 38,000 , BTC has entered a consolidation phase within the confines of a symmetrical triangle, as highlighted in orange. This development holds significant importance as it aligns closely with a yearly resistance zone between 38,000 and 40,000. The resolution of this pattern will likely dictate market sentiment for the remainder of the year. 📈 Should the triangle break to the upside, confirmed by a daily candle closing above 38,000, we anticipate a bullish continuation targeting the resistance range up to 40,000. 📉 Conversely, a downward break of the triangle, confirmed by a daily candle closing below 35,600, would signify bearish momentum, potentially leading to a substantial correction towards the 30,000 - 32,000 support and demand zone. For now, we wait! ⏱ 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! ~Richard Nasr
by TheSignalyst
26
BTC - Let The Party Start 🎉Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. On the Weekly Chart (Left): The bulls are stronger than ever, as BTC broke above the 32,000 weekly resistance. The 32,000 level is now acting as support since we had a daily candle close above it. The next resistance zone would be around 40,000. On the H1 Chart (Right): The blue curve shows the overall bullish trend, with the previous major lows marked in blue. Today, BTC formed a new recent low. If history repeats itself, we can expect the price to retest this low before forming another significant upward impulse. The bulls will remain in control unless the last low is broken downward. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
3