Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
As per my last analysis (attached on the chart), BTC rejected the the 18k resistance and upper red trendline of the channel.
Now What?
We are still overall bullish trading inside the rising channel, and we currently entered a correction movement.
As BTC approaches the lower bound / lower red trendline, we will be looking for buy setups.
And this lower trendline also intersects with the previous highs marked in gray which makes the zone stronger.
As per my trading style:
As Bitcoin approaches the lower purple circle zone, I will be looking for bullish reversal setups on lower timeframes (like a double bottom pattern, trendline break , and so on...)
We would be overall bullish, UNLESS we break below the orange zone, in this case a movement till the lower bound of the range (around 15500) would be expected.
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
As per my last analysis (attached on the chart), BTC rejected the the 18k resistance and upper red trendline of the channel.
Now What?
We are still overall bullish trading inside the rising channel, and we currently entered a correction movement.
As BTC approaches the lower bound / lower red trendline, we will be looking for buy setups.
And this lower trendline also intersects with the previous highs marked in gray which makes the zone stronger.
As per my trading style:
As Bitcoin approaches the lower purple circle zone, I will be looking for bullish reversal setups on lower timeframes (like a double bottom pattern, trendline break , and so on...)
We would be overall bullish, UNLESS we break below the orange zone, in this case a movement till the lower bound of the range (around 15500) would be expected.
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
Kucoin Exchange
kucoin.com/r/af/signalyst
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
Kucoin Exchange
kucoin.com/r/af/signalyst
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
Kucoin Exchange
kucoin.com/r/af/signalyst
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
Kucoin Exchange
kucoin.com/r/af/signalyst
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.