Hello TradingView family,
BITCOIN is now stuck inside a range in the shape of a symmetrical triangle. And every new candle is making the range even narrower.
Well as per the textbook, a symmetrical triangle is a bilateral pattern, which means it can be broken on either side.
However, as per my crypto approach, I will only be looking for buy setups.
But before we buy, we want the buyers to prove that they are taking over.
As per my trading plan, here are the two possible scenarios where I will be looking for buy setups.
Scenario 1: (Bullish Break)
I will be waiting for BTC to break the upper orange trendline and a Daily candle close above the green dashed line for the buyers to take over, then I will buy or look for buy setups on the 40k retest.
Scenario 2: (Bearish Break)
If BTC breaks the symmetrical triangle downward, by breaking below the lower purple dashed line, then I will be looking for buy setups as it approaches the blue support area 28k-30k
Which scenario do you think BITCOIN will respect/follow?
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
BITCOIN is now stuck inside a range in the shape of a symmetrical triangle. And every new candle is making the range even narrower.
Well as per the textbook, a symmetrical triangle is a bilateral pattern, which means it can be broken on either side.
However, as per my crypto approach, I will only be looking for buy setups.
But before we buy, we want the buyers to prove that they are taking over.
As per my trading plan, here are the two possible scenarios where I will be looking for buy setups.
Scenario 1: (Bullish Break)
I will be waiting for BTC to break the upper orange trendline and a Daily candle close above the green dashed line for the buyers to take over, then I will buy or look for buy setups on the 40k retest.
Scenario 2: (Bearish Break)
If BTC breaks the symmetrical triangle downward, by breaking below the lower purple dashed line, then I will be looking for buy setups as it approaches the blue support area 28k-30k
Which scenario do you think BITCOIN will respect/follow?
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.