BTC - Are You Ready? You Better Be!
The last couple of weeks were truly boring as BTC has been stuck inside a range.
This range reminds me of the previous two consolidations around 40k and 30k.
The longer the consolidation, the more aggressive the movement would be after the breakout. So be prepared!
i- The first question is... which way?
Scenario 1: Trend Reversal
For the bulls to take over, we need a daily momentum candle close above the upper bound / gray zone. (above 23k)
In this case, a movement till the upper resistance zone 28k - 30k would be expected.
Scenario 2: Trend Continuation (which is more probable in my opinion)
Check my previous analysis => Link To Related Ideas
For the bears to take over, we need a daily momentum candle close below the lower bound / gray zone. (below 18k)
In this case, a movement till the lower demand zone resistance 10k - 12k would be expected.
ii- The second question would be: when?
The first range was 29 days, while the second one has been extended to 34 days.
If this period pattern would be respected, we will be expecting the current third range to last 40 days, which would end after around 7 days from now.
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
This range reminds me of the previous two consolidations around 40k and 30k.
The longer the consolidation, the more aggressive the movement would be after the breakout. So be prepared!
i- The first question is... which way?
Scenario 1: Trend Reversal
For the bulls to take over, we need a daily momentum candle close above the upper bound / gray zone. (above 23k)
In this case, a movement till the upper resistance zone 28k - 30k would be expected.
Scenario 2: Trend Continuation (which is more probable in my opinion)
Check my previous analysis => Link To Related Ideas
For the bears to take over, we need a daily momentum candle close below the lower bound / gray zone. (below 18k)
In this case, a movement till the lower demand zone resistance 10k - 12k would be expected.
ii- The second question would be: when?
The first range was 29 days, while the second one has been extended to 34 days.
If this period pattern would be respected, we will be expecting the current third range to last 40 days, which would end after around 7 days from now.
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
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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