TheSignalyst

BTC - Take Your Time - We Are Hodling!

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hello Trading Family, if you like the idea, do not forget to support with a like and follow.

As per my last weekly analysis (attached below), BTC is approaching a demand zone in green and the lower brown trendline of the wedge pattern.

on H4: BTC is overall bearish from a medium-term perspective trading below the blue trendline, but since it is approaching a support zone , we will be looking for buy setups.

But before we buy, we want the bulls to take over again.

For example, and as per my trading style, I will be waiting for a new swing high to form around the blue trendline to consider it valid and then buy on its break upward.

Meanwhile, until the buy is activated, BTC would be overall bearish and can still dive inside the green zone.
In this case, we will be looking for new buy setups to form.

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

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich
Comment: Weekly Timeframe:

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

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