TheSignalyst

BTC - One More Bearish Impulse?

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hello TradingView Family, this is Richard.

As per my last video analysis (attached below), we know that Bitcoin is sitting around the 60k resistance zone and overall bearish from a medium-term perspective trading inside the red channel.

on H1: BTC formed a valid head and shoulders pattern marked in blue. If the bears manage to break below the gray neckline, then the next bearish impulse movement would be confirmed.

In this case, a movement till the 52k would be expected which is also the intersection of the lower red trendline and daily orange trendline.

Of course, unless the bulls take over by breaking the 60k zone upward.

Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich
Comment: Previous Video Analysis

Comment: Here is a new video I just recorded, including both possible scenarios:

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

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