Bitcoin has been in a steep correction for weeks, sliding inside a clear falling channel. Despite the heavy sell-off, price is now approaching one of the strongest confluence zones on the entire chart, a triple intersection.
This key level combines:
1- The major weekly bullish trendline
2- The horizontal support between $85,000–$90,000
3- And the lower boundary of the falling corrective channel
This kind of alignment doesn’t happen often. It’s the area where long-term bulls typically show up.
As long as BTC holds above $85,000–$90,000, the macro bullish structure remains intact. A strong reaction here could trigger a reversal and kick off the next impulsive wave upward. However, if this triple confluence fails, the market may face a deeper correction before stabilising.
We’re standing at a decisive moment… will this zone ignite the next bullish leg or break down into another wave of fear? 🤔
⚠️ Disclaimer: This is not financial advice. Always do your own research and manage risk properly.
📚 Stick to your trading plan regarding entries, risk, and management.
Good luck! 🍀
All Strategies Are Good; If Managed Properly!
~Richard Nasr.
This key level combines:
1- The major weekly bullish trendline
2- The horizontal support between $85,000–$90,000
3- And the lower boundary of the falling corrective channel
This kind of alignment doesn’t happen often. It’s the area where long-term bulls typically show up.
As long as BTC holds above $85,000–$90,000, the macro bullish structure remains intact. A strong reaction here could trigger a reversal and kick off the next impulsive wave upward. However, if this triple confluence fails, the market may face a deeper correction before stabilising.
We’re standing at a decisive moment… will this zone ignite the next bullish leg or break down into another wave of fear? 🤔
⚠️ Disclaimer: This is not financial advice. Always do your own research and manage risk properly.
📚 Stick to your trading plan regarding entries, risk, and management.
Good luck! 🍀
All Strategies Are Good; If Managed Properly!
~Richard Nasr.
RichTL
RichTL.com
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RichTL.com
Telegram
t.me/thesignalyst
Best Crypto Exchange
cutt.ly/qtwKuPaJ
CFD Broker
cutt.ly/TickmillReal
Best Crypto Prop Firm
cutt.ly/Hyrotrader
Best Crypto Trading Bots
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Disclaimer
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.
RichTL
RichTL.com
Telegram
t.me/thesignalyst
Best Crypto Exchange
cutt.ly/qtwKuPaJ
CFD Broker
cutt.ly/TickmillReal
Best Crypto Prop Firm
cutt.ly/Hyrotrader
Best Crypto Trading Bots
cutt.ly/Bitsgap1
RichTL.com
Telegram
t.me/thesignalyst
Best Crypto Exchange
cutt.ly/qtwKuPaJ
CFD Broker
cutt.ly/TickmillReal
Best Crypto Prop Firm
cutt.ly/Hyrotrader
Best Crypto Trading Bots
cutt.ly/Bitsgap1
Disclaimer
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.
