BTC - The Bulls Are Strong 💪 For Now!

20 พ.ย. 2023

Hello TradingView Family / Fellow Traders,

📈 BTC has generally exhibited a bullish trend from a medium-term perspective, trading within the ascending broadening wedge outlined in red.

In our last analysis, the bears took control in the short term last week by breaking below the last minor low in green.

🏹 Subsequently, we sought buy setups around the lower bound of the red wedge, and confirmation came after breaking above the blue high.

Therefore, BTC is anticipated to maintain a bullish trajectory, trading within the rising wedge in orange, with an expected movement towards the 38,000 - 40,000 resistance zone.

📉 However, unless the lower orange trendline and blue zone are breached downward once again, we should anticipate another bearish correction until reaching the lower red trendline.

📚 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Richard Nasr