Hello TradingView Family / Fellow Traders,
As per our previous analysis (attached on the chart), BTC started the correction phase after breaking below $70,000.
What's next?
📉Scenario 1:
As we approach the $60,000 support zone, we will be looking for new buy setups to catch the next upward impulse movement.
📈Scenario 2:
For the bulls to regain control from a long-term perspective, a break above $70,000 is needed.
Which scenario do you think is more likely to happen first, and why?
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Richard Nasr
As per our previous analysis (attached on the chart), BTC started the correction phase after breaking below $70,000.
What's next?
📉Scenario 1:
As we approach the $60,000 support zone, we will be looking for new buy setups to catch the next upward impulse movement.
📈Scenario 2:
For the bulls to regain control from a long-term perspective, a break above $70,000 is needed.
Which scenario do you think is more likely to happen first, and why?
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Richard Nasr