TheSignalyst

BTC - You Decide => We Follow!

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
BITCOIN broke the red channel and traded higher! Now What?

Scenario 1: Short-Term Reversal

BTC rejects the 50k resistance.

In this case, we will be looking for buy setups as it approaches the 40k support.

Scenario 2: Bullish Continuation - Breakout

BTC breaks above the 50k resistance.

In this case, the 50k resistance would become support, and we will be looking for buy setups on its retest.

Which Scenario do you think is more likely to happen? and Why?

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich

This analysis is done using RichTL indicator
http://www.RichTL.com

Telegram Channel
https://t.me/thesignalyst

Youtube
https://youtube.com/c/thesignalyst

For every 4 crypto holders, there's 1 from Kucoin exchange
Sign up Here
https://cutt.ly/Kucoin1