Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
BTC has been stuck inside a range between 29,500 and 31,500 and it is currently approaching the 30,000 round number.
Moreover, BTC is approaching the lower bound of the orange channel.
🏹 So the highlighted red circle is a strong area to look for buy setups as it is the intersection of the 30,000 round number and lower orange trendline.
As per my trading style:
As BTC approaches the red circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
If the 30,000 zone is broken downward, we will be expecting further bearish movement till the lower bound of the range around 29,500
📚 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 inside a range between 29,500 and 31,500 and it is currently approaching the 30,000 round number.
Moreover, BTC is approaching the lower bound of the orange channel.
🏹 So the highlighted red circle is a strong area to look for buy setups as it is the intersection of the 30,000 round number and lower orange trendline.
As per my trading style:
As BTC approaches the red circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
If the 30,000 zone is broken downward, we will be expecting further bearish movement till the lower bound of the range around 29,500
📚 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
Best CFD broker
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www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal