Bitcoin - Back Inside The Range? 📦

Hello TradingView Family / Fellow Traders,

📌on Weekly: Left Chart
As per my last analysis, BTC is still hovering around the 38,000 - 40,000 resistance zone.

🏹 To sustain bullish control and assert dominance from a macro perspective, a crucial requirement is a weekly candle close above 40,000. Such a development would likely lead to a parabolic movement, aiming for the 50,000 resistance level.

📌on H4: Left Chart
Meanwhile, considering BTC's proximity to a resistance zone, there remains a possibility of bearish intervention, potentially pushing it back into a range reminiscent of the 30,000 to 32,000 range.

📉 To trigger the bearish scenario, a break below the last significant low in red at 35,670 is required.

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

Good luck!

All Strategies Are Good; If Managed Properly!
~Richard Nasr