BTC - I am Back 😁

Greetings, TradingView Family! This is Richard, also known as theSignalyst.

📌 After 2 weeks off the charts, I am back as a married man.

The past 2 weeks were boring, as BTC is still stuck inside a range. Hence, there haven't been many updates from a Daily timeframe perspective. I hope to post a short-term view by tomorrow.

🏹 From a macro standpoint, for the bulls to regain control, a weekly break above 32,000 in green is crucial.

📌 However, as mentioned 2 weeks ago, the bears still retain the potential to initiate one more bearish correction before the bullish momentum resumes.

📉 To trigger a bearish correction, a breakdown below the red support level at 29,500 is necessary.

📌 BTC is now trying to break below 29,500. If this H4 candle closes below 29,500, we can anticipate a movement towards the blue support at 27,500. There, we will actively seek out new trend-following bullish setups.

Now, I would love to hear your insights on which scenario seems more likely to unfold and the reasoning behind your perspective.

📚 Always remember to follow your trading plan when it comes to entry, risk management, and trade management.

Good luck!

Remember, all strategies are good if managed properly!

~Rich