BTC rejected the lower bound / blue trendline and traded higher, and now approaching a critical zone highlighted in green.
This green zone has been holding for a while, acting as strong support and resistance .
For now, the green zone is acting as a resistance
For the bulls to take over, we need a weekly candle close above it.
Meanwhile, the bears can still kick in and reject that resistance.
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
