Hello TradingView Family / Fellow Traders,
~ When in doubt, zoom out!
📰 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.
📈 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.
📉 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.
⏱ Remember:
You Are Getting Paid; To Wait!
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
~Richard Nasr
~ When in doubt, zoom out!
📰 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.
📈 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.
📉 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.
⏱ Remember:
You Are Getting Paid; To Wait!
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
~Richard Nasr