BTC - Let The Party Start 🎉

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

On the Weekly Chart (Left):
The bulls are stronger than ever, as BTC broke above the 32,000 weekly resistance. The 32,000 level is now acting as support since we had a daily candle close above it. The next resistance zone would be around 40,000.

On the H1 Chart (Right):
The blue curve shows the overall bullish trend, with the previous major lows marked in blue. Today, BTC formed a new recent low. If history repeats itself, we can expect the price to retest this low before forming another significant upward impulse.

The bulls will remain in control unless the last low is broken downward.

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

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich

Comment:

BTC is still stuck inside a range forming our current correction phase.

For the bulls to take over and start the next bullish impulse, we need a break above the current high in orange at 35285.0

Comment:

BTC is still stuck inside our range; trading inside the rising red channel from a short-term perspective.

For the bulls to remain in control, we need a break above the last high at 35,300.

Meanwhile, if the red channel is broken downward, expect a bearish movement till the blue previous major low where we will be looking for new trend-following buy setups