BTC - One More Checkpoint!

١ يونيو ٢٠٢٢

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

As per my last analysis (attached below) we were waiting for a break above or below the gray channel for the bulls / bears to take over.

Now since we have a break above the minor green range, the bulls are clearly pushing.

HOWEVER, don't get too excited. Not yet!

For the bulls to take over, and the reversal / correction movement to start, we still need a momentum break above the upper bound / gray zone. (H4 chart on the left)

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

In this case, the bears need to break below the last minor low in orange. (H1 chart on the right)

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