BTC - Short-Term Bearish?

kemarin

Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

The BTC market structure has been very clean lately, which I find interesting.

📉Previously, after breaking below the last major lows (marked in red), BTC dipped.

📈Similarly, after breaking above the last major highs (marked in blue), BTC surged.

🔄If history repeats itself, and the current last major low marked in red is broken to the downside, we can expect another dip in BTC.

However, as long as BTC continues trading within the rising orange channel, the overall short-term trend remains bullish.

🕝What do you think? Will BTC break below the channel for a bearish correction to start, or will it keep pushing higher within the channel to test the $70,000 round number?

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

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich