As per my last Bitcoin analysis (Picture and Video Analysis Attached Below) we were speculating a bearish movement till the blue support (28k-30k)
Bitcoin made it there now, which we called the "Decision Area". (Phase 1 done)
Now we will be looking for buy setups since BTC is sitting inside a support zone. Unless, as mentioned before, BTC breaks our blue zone downward aggressively, then our support would become resistance and we will be looking for sell setups on its retest.
For now, our blue zone is still acting as support, so we will be waiting for a third swing to form around our upper orange trendline, to consider it valid, and then and only then we will buy on its break upward, after a momentum candle close above the gray area. (projection in purple)
As per my trading style: When our buy is activated, the stop loss goes below the last swing low, and I target double the stop loss size.
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly! ~Rich