BITCOIN - Trend-Following Buy Setup!
Hello everyone, if you like the idea, do not forget to support with a like and follow. BITCOIN is overall bullish trading inside the orange channel. and since it is approaching the lower orange trendline, we will be looking for trend-following buy setups. Before we buy, we want the buyers to prove that they are taking over again. You don't want to buy a bearish market right? on M30: BTC is forming a channel in red but the upper red trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple) Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone) Meanwhile, until the buy is activated, BTC would be overall bearish can still trade lower and break the lower orange trendline downward. In this case, a movement till our blue support 28k-30k would be expected where we will be looking for new buy setups to form. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
0xsignals
BITCOIN - Trend-Following Buy Setup!
Hello everyone, if you like the idea, do not forget to support with a like and follow.
BITCOIN is overall bullish trading inside the orange channel. and since it is approaching the lower orange trendline, we will be looking for trend-following buy setups.
Before we buy, we want the buyers to prove that they are taking over again.
You don't want to buy a bearish market right?
on M30: BTC is forming a channel in red but the upper red trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple)
Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone)
Meanwhile, until the buy is activated, BTC would be overall bearish can still trade lower and break the lower orange trendline downward.
In this case, a movement till our blue support 28k-30k would be expected where we will be looking for new buy setups to form.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
