TheSignalyst

BTC - Comparing Previous Cycles ♠️

BITRUE:BTCUSDT   BITCOIN/TETHERUS
Hello TradingView Family / Fellow Traders,

πŸ“Š Monthly Chart:
If history repeats itself, as seen in previous cycles, BTC is currently breaking out of the correction phase, and the impulse phase has already begun.

πŸ“Š Weekly Chart:
Consistent with past cycles, it is evident that BTC tends to retest the red zone before preparing for a parabolic upward movement.

Therefore, be prepared for a potential bearish correction before the bulls regain control in the medium term.

This bullish scenario remains valid as long as the red zone (30,000) holds, signifying no weekly candle close below this zone.

What are your thoughts?

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

Good luck!

All Strategies Are Good; If Managed Properly!
~Richard Nasr

This analysis is done using RichTL
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