Hello TradingView Family / Fellow Traders,
~ When in doubt, zoom out!
π° With all the fundamental news and choppy price action, it is always a good practice to take a break, relax, and look at the big picture.
Last week, both BTC and ETH rejected the upper bound of the channel and resistance zones.
π For the bulls to remain in control and take over from a macro perspective in this bull run, we need a weekly candle close above 50k and 3k zones for BTC and ETH, respectively.
π Until then, bearish pressure may persist from a medium-term perspective and might initiate a deep correction phase, leading to the lower bound of the channels, at 35k and 2k, respectively, for BTC and ETH.
β± Remember:
You Are Getting Paid; To Wait!
π Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
~Richard Nasr
~ When in doubt, zoom out!
π° With all the fundamental news and choppy price action, it is always a good practice to take a break, relax, and look at the big picture.
Last week, both BTC and ETH rejected the upper bound of the channel and resistance zones.
π For the bulls to remain in control and take over from a macro perspective in this bull run, we need a weekly candle close above 50k and 3k zones for BTC and ETH, respectively.
π Until then, bearish pressure may persist from a medium-term perspective and might initiate a deep correction phase, leading to the lower bound of the channels, at 35k and 2k, respectively, for BTC and ETH.
β± Remember:
You Are Getting Paid; To Wait!
π Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
~Richard Nasr
This analysis is done using RichTL
www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
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www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Buy CRGPT on Uniswap
cutt.ly/CRGPT