BTC - Medium-Term View 🔎

5 мая 2023 г.

Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

📌H4: Left Chart
BTC is currently overall bearish from a medium-term perspective trading inside the falling channel in orange.

Now BTC is sitting around the upper orange trendline acting as a non-horizontal resistance.

📌on H1: Right Chart
BTC bullish short-term as a correction trading inside the rising channel in red.

If BTC breaks below the lower red trendline and zone, we will expect the next bearish impulse to start pushing till the lower orange trendline.

📉 Meanwhile, BTC is still bullish short-term and can still break above the upper orange trendline to retest the 30k-32k zone.

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!
~Rich