Greetings, TradingView Family! This is Richard, also known as theSignalyst.
After being rejected at the 28,000 supply zone and breaking below the recent low highlighted in blue mentioned last week, BTC is currently trading near the lower boundary of the range.
📈For the bulls to take over, it's crucial for BTC to surpass the 26,200 level. If this occurs, we can expect further upward momentum toward 27,400 red supply zone.
📉 Meanwhile, BTC would be bearish and can still test the previous major low in orange at 25,300 or even breaks it downward.
Now, which scenario seems more likely to unfold next, and why?
📚 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!