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TheSignalyst
Jan 27, 2023 11:13 AM

BTC - Fishing Time? 🌊 

WHITEBIT:BTCUSDT1D
Bitcoin / Tether USWhiteBIT

Description

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

on Daily: right chart
BTC is currently sitting in the middle of nowhere! between our 21,000 support and 25,000 resistance.

Sometimes, no action at all, is also an action. 🧘‍♂️
No Trade, Is Also A Trade!

Especially that the weekend is approaching, is it fishing time?

on H4: left chart
BTC is stuck inside a range again.

🏹 For the bulls to take over, for one more impulse till the 25k resistance zone, we need a break above the red high.

⚔️ For the bears to take over, for a correction till the 21k support zone, we need a break below the orange low.

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!
~Rich
Trend AnalysisChart PatternsWave AnalysisBTCBitcoin (Cryptocurrency)fishingcryptorangeblockchainlongtermimpulseBTCUSD
Comments
simpsonepic1a
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It way overbought so i would say take profit beacuse if you dont the whales will.Wit for a dump back to 15k.
TheSignalyst
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@simpsonepic1a, I agree, can't really find a good reason for this pump. thanks for sharing your thoughts. I believe 18k is the next major support if we trade lower
VasilyTrader
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Good market breakdown!
TheSignalyst
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@VasilyTrader, thanks dear
Setupsfx_
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Great analysis mate
TheSignalyst
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@Setupsfx_, thanks my friend
Tolberti
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Nice outlook, thank you!
TheSignalyst
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@Tolberti, thanks Tolberti
P_S_trade
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Thanks for sharing your vision, agree with you
TheSignalyst
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@P_S_trade, salute
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