Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
on H4: Left Chart
BTC broke above the H4 range so the bulls took over from a medium-term perspective.
Now as BTC retests the upper red level, 20k and previous orange low, we will be looking for trend-following buy setups.
The bulls will remain in control, as long as we are above the last orange low and orange trendline.
on H1: Right Chart
We are currently bullish from a short-term perspective. For the bears to take over and start a short-term correction, we need a break below the last low in gray. (just like previously on the left)
If we get that break below the gray zone, then we will expect a short-term bearish movement till the support zone as mentioned from H4.
And then we will be waiting for the bulls to take over again by breaking above a new minor high and upper blue trendline.
Meanwhile, BTC would be bullish short-term and can still break that previous H4 high (21100) now and trade higher from here.
Which scenario do you think is more probable and why?
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
on H4: Left Chart
BTC broke above the H4 range so the bulls took over from a medium-term perspective.
Now as BTC retests the upper red level, 20k and previous orange low, we will be looking for trend-following buy setups.
The bulls will remain in control, as long as we are above the last orange low and orange trendline.
on H1: Right Chart
We are currently bullish from a short-term perspective. For the bears to take over and start a short-term correction, we need a break below the last low in gray. (just like previously on the left)
If we get that break below the gray zone, then we will expect a short-term bearish movement till the support zone as mentioned from H4.
And then we will be waiting for the bulls to take over again by breaking above a new minor high and upper blue trendline.
Meanwhile, BTC would be bullish short-term and can still break that previous H4 high (21100) now and trade higher from here.
Which scenario do you think is more probable and why?
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Trade Made Simple
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
CFD Broker - TradeNation
cutt.ly/GrTivmRC
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
CFD Broker - TradeNation
cutt.ly/GrTivmRC
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.
Trade Made Simple
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
CFD Broker - TradeNation
cutt.ly/GrTivmRC
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
CFD Broker - TradeNation
cutt.ly/GrTivmRC
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.