BTC - For Now, We Wait ⏱

Hello TradingView Family / Fellow Traders,

Based on my recent BTC analysis (attached on the chart), we anticipated a rejection from the blue circle zone, as it is the intersection of the lower bound of the channel and the 40,000 round number.

Now, what's next?

📈 For the bulls to remain in control and take over from a medium-term perspective again, we need an H4 candle close above the last major high marked in orange at 43,550.

In this case, a movement to the 48,000 resistance would be expected.

📉 Meanwhile, BTC would be stuck inside a range, but the bulls will remain in control as long as the 40,000 level holds.

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

Good luck!

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