BTC - Next Stop 50k 📍 Unless!

Hello TradingView Family / Fellow Traders,

In my latest analysis, BTC successfully surpassed the 45,000 resistance and traded higher.

However, yesterday, BTC faced rejection at the 48,000 level and the upper boundary of the orange wedge pattern.

Now, what's next?

📈 BTC is anticipated to remain bullish, and we anticipate a potential movement towards the weekly resistance zone between 48,000 and 50,000, as long as the 44,500 support level is maintained.

📉 In the event of a downward break below the lower red trendline and the 44,500 support level, we expect a continuation of bearish movement until reaching the lower boundary of the orange wedge pattern, approximately around 42,500.

Which scenario do you believe is more likely to occur first, and why?

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

Good luck!

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