BITCOIN - Are We Going To See That Deep Correction?

20 Mar 2021

As per my last video analysis (attached below), we are still waiting for BTC to reject/break the 60k and then act accordingly.

Here are the two possible scenarios: As per my trading plan.

Scenario 1 - BTC rejects the 60k and trades lower => In this case, we will be looking for buy setups as it approaches the orange trendlines.

For this scenario to be confirmed / valid, we need an H1 candle close below the last swing low (58k).

Scenario 2 - BTC breaks the 60k => In this case, we will be looking for buy setups on its retest.

For this scenario to be confirmed / valid, we need a daily candle close above the previous bullish candle (above the 60k).

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

Which scenario is more likely to happen in your opinion? and Why?

All Strategies Are Good; If Managed Properly!
~Rich

20 Mar 2021

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