Bitcoin is currently moving inside a bullish ascending channel, which is aligned with its previous upward momentum. If the upper boundary of the channel breaks, we can consider this structure as a bullish flag breakout, signaling continuation to the upside.
The High Wave Cycle (HWC) trend remains bullish, and for now, every pullback is seen as a buying opportunity for long positions. I’m not looking for shorts at this stage unless we see a clear break of the channel’s lower boundary followed by consolidation, which would confirm a structural shift.
At the same time, as Bitcoin approaches the lower boundary of the channel, the RSI is testing its own support zone. If today’s daily candle closes with healthy volume, it would strengthen the case for long positions in the upcoming sessions.
🔥 Trading Plan
Focus on long positions while the bullish channel holds.
Watch channel resistance for breakout confirmation (bullish flag scenario).
In case of a break below channel support → shift focus to short setups.
RSI support + volume confirmation = potential strong long entry.
#Bitcoin #BTCUSDT #CryptoTrading #PriceAction #TechnicalAnalysis #TradingView #BullishTrend #CryptoSignals
The High Wave Cycle (HWC) trend remains bullish, and for now, every pullback is seen as a buying opportunity for long positions. I’m not looking for shorts at this stage unless we see a clear break of the channel’s lower boundary followed by consolidation, which would confirm a structural shift.
At the same time, as Bitcoin approaches the lower boundary of the channel, the RSI is testing its own support zone. If today’s daily candle closes with healthy volume, it would strengthen the case for long positions in the upcoming sessions.
🔥 Trading Plan
Focus on long positions while the bullish channel holds.
Watch channel resistance for breakout confirmation (bullish flag scenario).
In case of a break below channel support → shift focus to short setups.
RSI support + volume confirmation = potential strong long entry.
#Bitcoin #BTCUSDT #CryptoTrading #PriceAction #TechnicalAnalysis #TradingView #BullishTrend #CryptoSignals
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.