Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈 BTC has been stuck inside a range within the shape of a symmetrical triangle.
Currently, BTC is in a correction phase, approaching the lower bound of the triangle.
Moreover, it is retesting a strong support and round number $60,000.
🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the blue support and lower orange trendline.
📚 As per my trading style:
As #BTC approaches the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
This bullish scenario will hold, unless the $60,000 is broken downward.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
📈 BTC has been stuck inside a range within the shape of a symmetrical triangle.
Currently, BTC is in a correction phase, approaching the lower bound of the triangle.
Moreover, it is retesting a strong support and round number $60,000.
🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the blue support and lower orange trendline.
📚 As per my trading style:
As #BTC approaches the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
This bullish scenario will hold, unless the $60,000 is broken downward.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich