BTC - Make or Break Zone 📈📉

KUCOIN:BTCUSDT   Bitcoin / Tether
Hello TradingView Family / Fellow Traders,

As per my last analysis, attached on the chart, BTC broke above the accumulation phase and traded higher.

Currently, BTC is hovering around the upper bound of the range.

What's next?


1️⃣ Bullish - Continuation

For the bulls to maintain control, a break above the upper bound of the range at $72,000 is needed.

In this case, a movement towards the $80,000 resistance would be expected.

2️⃣ Bearish - Correction

In parallel, if the lower red trendline is broken downward, we expect a bearish movement towards the lower bound of the blue channel.

Which scenario is more likely to happen first? and why?

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

Good luck!

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

Trading Made Simple; and Rule-Based



Best CFD broker

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.