BTC => Action

Jun 11

Hello TradingView Family / Fellow Traders,

As per my last analysis, BTC rejected the $70,000 - $72,000 resistance zone and is currently trading lower.

What's next?

Scenarios:

1️⃣ Bullish - Continuation

For the bulls to maintain control, a break above the $72,000 resistance is needed.

In this case, a movement towards the $80,000 resistance would be expected.

2️⃣ Bearish - Correction

In parallel, if the last low marked in red is broken downward, we expect the bearish correction to start leading to a movement towards $60,000.

Which scenario 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!
~Richard Nasr