Structure broken! How much can BTC go?
2024-11-26

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

📉 After breaking the minor low marked in red at $95,000, the bears have already taken over in the short term.

However, BTC will remain bullish in the medium term as long as the last major low in blue at $85,000 holds.

Thus, as BTC approaches the $85,000 zone, I will be looking for bullish reversal setups to form at the rejection.

If and only if $85,000 is broken downward, a bigger bearish correction towards the $75,000 demand zone would be expected.

Which scenario do you think is more likely to happen and why?

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

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich