โ‚ฟTC - Getting Over-Bought ?โ—๏ธ

WHITEBIT:BTCUSDT   Bitcoin / Tether US
Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

๐Ÿ“ˆ BTC is currently overall bullish trading inside the red rising broadening wedge pattern.

๐Ÿ“Œ Here is why the 30,000 - 32,000 is a strong rejection:
1- Round number => 30,000
2- Classic Support Zone Turned Resistance from Weekly timeframe
3- Supply zone marked on the chart
4- Intersecting with the upper red trendline acting as a non-horizontal resistance

๐Ÿ“‰ Hence, as BTC approaches the 30k - 32k zone, we will be expecting the bears to take over for a medium-term correction.

๐Ÿ“Œ For the bulls to take over from a MACRO perspective, we need a weekly candle close above 32,000

๐Ÿ“š Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!

This analysis is done using RichTL


BingX Crypto Exchange

Best CFD broker

Copy Trading / Smart trading

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.