BTC - Correction Phase Started 📉📈

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

📈 After breaking below $70,000, BTC started the bearish correction phase.

As long as the $70,000 resistance holds, we anticipate a movement towards the lower bound of the red wedge pattern.

Moreover, the $60,000 - $62,000 range is a massive support zone.

🏹 Thus, the highlighted red circle is a strong area to look for buy setups as it is the intersection of the blue support and lower red trendline.

📚 As per my trading style:
As #BTC approaches the red circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)

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

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich

Comment:

BTC is now approaching our rejection zone 60k-62k.

Thus, we will start looking for bullish reversal setups on lower timeframes to confirm bullish control.