Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
BTC has been stuck in a range around the 20k round number for a couple of days forming a symmetrical triangle.
For the bulls to take over, to start the minor correction upward, we need a momentum candle close above the blue zone.
In this case a movement till the H4 major high and supply zone in green would be expected.
Meanwhile, until the bulls take over, the bears can still kick and break below the symmetrical triangle downward.
In this case a movement till the 18k would be expected.
Which scenario do you think is more probable and why?
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
BTC has been stuck in a range around the 20k round number for a couple of days forming a symmetrical triangle.
For the bulls to take over, to start the minor correction upward, we need a momentum candle close above the blue zone.
In this case a movement till the H4 major high and supply zone in green would be expected.
Meanwhile, until the bulls take over, the bears can still kick and break below the symmetrical triangle downward.
In this case a movement till the 18k would be expected.
Which scenario do you think is more probable and why?
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
This analysis is done using RichTL
www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
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www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal