Hello Fellow Traders. This is Richard, also known as theSignalyst.
🗒 After rejection the 20,000 round number, BTC broke above the last major high in gray, and have been bullish since then.
We will remain bullish as long as BTC doesn't break a previous major low.
The current last major low is highlighted in gray around 26,700
📌 If we break below 26,700 expect a bearish correction to start till around 25,000 support.
🏹 Meanwhile, we are still bullish and the bulls would take full control again by breaking above the current minor high in gray around 28,500
In this case, a movement till the 30,000 weekly supply zone is expected.
Which scenario do you think is more likely to happen first? and why?
📚Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
