Bitcoin Traders - Buckle Up!

As per our last analysis (attached below), we know that Bitcoin is still overall bullish and we will be looking for trend-following buy setups as it approaches the lower brown trendline.

Bitcoin formed a valid trendline in red but it is not ready to go yet. We always wait for extra confirmation and trigger. We want the buyers to prove that they are taking control again by breaking above the last swing high!

Trigger: Waiting for a momentum candle close above the gray area (last high) to buy.

Or whatever your trading plan is. Always follow your trading plan.

Our stop loss always goes just below the last swing low, and we target the double of our stop loss size.

Unless Bitcoin breaks below the lower brown trendline (and its last swing low) then and only then the momentum would be shifted from bullish to bearish.

For now, we are still overall bullish (long-term) and looking for trend-following buy setups around our lower brown trendline which acts as non-horizontal support.

Good Luck

All Strategies Are Good; If Managed Properly!
~Rich