Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
After failing to breach the 30,000 resistance level, Bitcoin (BTC) has exhibited a bearish trend characterized by consecutive lower lows and lower highs.
In the previous week, BTC broke below the critical support at 27,000 and found itself hovering around the 25,000 mark.
As long as the 25,000 support level holds, there is still potential for bullish momentum to emerge. Consequently, we will closely monitor lower timeframes for any bullish setups that may confirm a reversal.
It's important to note that the overall sentiment for BTC remains bearish. Should the price drop below the 25,000 support level, we can anticipate further downward movement towards the next significant support level, which lies around 21,000.
For now, we wait! ⏱
đź“š Hope you find this post useful. It's important to always adhere to your trading plan, including entry points, risk management strategies, and trade management techniques.
All Strategies Are Good; If Managed Properly!
~Richard
Disclaimer: The information provided is for educational and informational purposes only and should not be considered as financial advice. It is important to do your own research and make informed decisions before entering any trades. Past performance is not indicative of future results. Always be aware of the potential for losses, and never risk more than you can afford to lose.
After failing to breach the 30,000 resistance level, Bitcoin (BTC) has exhibited a bearish trend characterized by consecutive lower lows and lower highs.
In the previous week, BTC broke below the critical support at 27,000 and found itself hovering around the 25,000 mark.
As long as the 25,000 support level holds, there is still potential for bullish momentum to emerge. Consequently, we will closely monitor lower timeframes for any bullish setups that may confirm a reversal.
It's important to note that the overall sentiment for BTC remains bearish. Should the price drop below the 25,000 support level, we can anticipate further downward movement towards the next significant support level, which lies around 21,000.
For now, we wait! ⏱
đź“š Hope you find this post useful. It's important to always adhere to your trading plan, including entry points, risk management strategies, and trade management techniques.
All Strategies Are Good; If Managed Properly!
~Richard
Disclaimer: The information provided is for educational and informational purposes only and should not be considered as financial advice. It is important to do your own research and make informed decisions before entering any trades. Past performance is not indicative of future results. Always be aware of the potential for losses, and never risk more than you can afford to lose.
This analysis is done using RichTL
www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal