Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
on H4: Left Chart
As per my last idea, we know that BTC has been stuck inside a range in the shape of a flat rising broadening wedge pattern in red.
Since BTC is now approaching the lower bound (red trendline) we will be looking for trend-following buy setups.
on H1: Right Chart
After rejecting the upper red trendline and breaking below the gray low, BTC has been bearish forming a correction phase inside the orange channel.
🏹 For the bulls to take over, and start the next bullish impulse, we need a break above the last major high in orange.
Meanwhile, BTC can still trade lower. and IF we break below the H4 low in red, we will expect further bearish movement till the green demand zone around 21,000
📚Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
on H4: Left Chart
As per my last idea, we know that BTC has been stuck inside a range in the shape of a flat rising broadening wedge pattern in red.
Since BTC is now approaching the lower bound (red trendline) we will be looking for trend-following buy setups.
on H1: Right Chart
After rejecting the upper red trendline and breaking below the gray low, BTC has been bearish forming a correction phase inside the orange channel.
🏹 For the bulls to take over, and start the next bullish impulse, we need a break above the last major high in orange.
Meanwhile, BTC can still trade lower. and IF we break below the H4 low in red, we will expect further bearish movement till the green demand zone around 21,000
📚Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
This analysis is done using RichTL
www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
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www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
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