BTC & US500 - Wait For The Bulls!

٣٠ سبتمبر ٢٠٢٢

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

As per my last idea:

BTC broke above the symmetrical triangle, so the bulls took over short-term.

However, we are still waiting for a momentum candle close above 20k and orange zone for the bulls to take over medium term.

Then we will be expecting a movement till the blue support/resistance and supply zone.

Especially with US500 also sitting around a support zone 3600-3700. For the bulls to take over on US500, we also need to see a break above 3700 and the last major high in gray.

Meanwhile, the bears can still kick in and drive price back inside the range.

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