BTC - Still Bullish ❓❓

9 mar 2023

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

As per my last analysis, we know that the correction already started by breaking below the gray H4 low.

📉 BTC has been bearish from a medium-term perspective trading inside the falling channel in red.

This channel reminds of the previous one a couple of weeks ago.

🏹 As mentioned in the last BTC video update, for the bulls to kick in, hence start the next bullish impulse, we need a above the upper red trendline and last major high in red. (around 22,600)

Meanwhile, BTC can still dive inside the 21,000 support zone.

If we break 21,000 downward from daily, then we will expect further long-term bearish movement till 19,000

Which scenario do you think is more likely to happen? and why?

📚 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich