BTC - Two Possible Road-Maps!πŸ—Ί

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.

BTC has been stuck in a range between 15600 and 17000

This week the range is getting narrower as BTC is trading inside the red symmetrical triangle.

πŸ“Œ 1- Bearish Scenario:

If BTC breaks below the gray zone 16300, then further bearish movement would be expected till the green 15700 zone.

and then if BTC breaks below 15600 from Daily, then further long-term bearish movement would be expected.

πŸ“Œ 2- Bullish Scenario:

If BTC breaks above the upper red trendline then we will expect to text the orange minor resistance.

and then if BTC breaks above the orange zone 17100, then further short-term bullish movement till the 18000 green zone would be expected.

πŸ—’ Which scenario do you think is more likely to happen? and Why?

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

Good luck!

All Strategies Are Good; If Managed Properly!

This analysis is done using RichTL


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