BTC - Short-Term Decision Zone 📈📉

Hello TradingView Family / Fellow Traders,

After breaking below the 45,000 local support, BTC traded lower, and it is currently sitting around the lower bound of the orange flat wedge pattern.

Now, what's next?

As long as 41,300 holds, we will be looking for trend-following buy setups.

📈 For the bulls to take over, we need a momentum candle close above the 44,100 local resistance. In this case, a movement towards the 48,000 - 50,000 resistance zone would be expected.

📉 Alternatively, if 41,300 is broken downward, we expect further bearish movement towards the 38,500 demand zone.

Which scenario do you think is more likely to happen 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