Greetings, TradingView Family! This is Richard, also known as theSignalyst.
📌 This week, BTC broke below the 29,500 support level and the previous major low, signaling the bears' dominance in the market. Currently, the price is trading within the falling red channel, indicating a downward trend.
📈 To regain control, the bulls need to achieve a momentum candle close above 29,850. This could potentially shift the market sentiment in favor of the bulls.
📉 However, it's important to note that the overall bias remains bearish, and the recent short-term bullish movement may be considered a correction within the larger downtrend.
📚 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
📌 This week, BTC broke below the 29,500 support level and the previous major low, signaling the bears' dominance in the market. Currently, the price is trading within the falling red channel, indicating a downward trend.
📈 To regain control, the bulls need to achieve a momentum candle close above 29,850. This could potentially shift the market sentiment in favor of the bulls.
📉 However, it's important to note that the overall bias remains bearish, and the recent short-term bullish movement may be considered a correction within the larger downtrend.
📚 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
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.