BTC - I am Back 😁
Greetings, TradingView Family! This is Richard, also known as theSignalyst.
📌 After 2 weeks off the charts, I am back as a married man.
The past 2 weeks were boring, as BTC is still stuck inside a range. Hence, there haven't been many updates from a Daily timeframe perspective. I hope to post a short-term view by tomorrow.
🏹 From a macro standpoint, for the bulls to regain control, a weekly break above 32,000 in green is crucial.
📌 However, as mentioned 2 weeks ago, the bears still retain the potential to initiate one more bearish correction before the bullish momentum resumes.
📉 To trigger a bearish correction, a breakdown below the red support level at 29,500 is necessary.
📌 BTC is now trying to break below 29,500. If this H4 candle closes below 29,500, we can anticipate a movement towards the blue support at 27,500. There, we will actively seek out new trend-following bullish setups.
Now, I would love to hear your insights on which scenario seems more likely to unfold and the reasoning behind your perspective.
📚 Always remember to follow your trading plan when it comes to entry, risk management, and trade management.
Good luck!
Remember, all strategies are good if managed properly!
~Rich
📌 After 2 weeks off the charts, I am back as a married man.
The past 2 weeks were boring, as BTC is still stuck inside a range. Hence, there haven't been many updates from a Daily timeframe perspective. I hope to post a short-term view by tomorrow.
🏹 From a macro standpoint, for the bulls to regain control, a weekly break above 32,000 in green is crucial.
📌 However, as mentioned 2 weeks ago, the bears still retain the potential to initiate one more bearish correction before the bullish momentum resumes.
📉 To trigger a bearish correction, a breakdown below the red support level at 29,500 is necessary.
📌 BTC is now trying to break below 29,500. If this H4 candle closes below 29,500, we can anticipate a movement towards the blue support at 27,500. There, we will actively seek out new trend-following bullish setups.
Now, I would love to hear your insights on which scenario seems more likely to unfold and the reasoning behind your perspective.
📚 Always remember to follow your trading plan when it comes to entry, risk management, and trade management.
Good luck!
Remember, all strategies are good if managed properly!
~Rich
Trading Made Simple; and Rule-Based
RichTL.com
Instagram
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
Best Crypto Exchange
coincall.com/r/thesignalyst
RichTL.com
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
Best Crypto Exchange
coincall.com/r/thesignalyst
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.