BTC - Still Strong 🏆

Hello TradingView Family / Fellow Traders,

🏹 After breaking above the orange symmetrical triangle, BTC initiated a new parabolic impulse and has been bullish trading within the ascending red channel.

Presently, BTC is hovering near the upper boundary of the channel, which could potentially lead to a bearish correction.

📉 In such a scenario, as BTC approaches the intersection of the lower red trendline and $40,000, we will be on the lookout for trend-following buying opportunities.

📈 Concurrently, for the bulls to assert dominance aggressively, a decisive break above the current minor high at $44,500 is crucial. In this scenario, a movement towards the $48,000 resistance level can be anticipated.

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

Good luck!

All Strategies Are Good; If Managed Properly!
~Richard Nasr