BTC - Bullish Then Bearish? 🔎

Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

As per my last BTC analysis, we know that BTC has been overall bullish for the last 2 weeks trading inside the red channel.

We would be bullish (short-term) as long as we are trading inside the rising red channel.

For the bulls to take over and start the next bullish impulse upward, we need a break above the gray zone.

As BTC trades higher, the 18k zone is a strong resistance as it is also intersecting with the upper red trendline which acts as a non-horizontal resistance.

So I will be expecting a rejecting there. As per my trading style, I will be zooming in to lower timeframes and looking for any bearish reversal setup to confirm it.

For now, we would be bullish, unless we break below the orange zone, in this case a movement till the lower bound of the range (around 15500) would be expected.

Which scenario do you think is more probable and why?

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

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich