View long-term record! For BITSTAMP: BTCUSD By TheSignalyst – Technische Analyze – 2022-11-12 06:02:49

Hello TradingView family / fellow traders. This is Richard, aka TheSignalyst.

📉 From a long-term perspective, BTC comprehensive rising Trade in our green channel.

In addition, the green zone (10k – 12k) is a support facing resistance.

We are in the correction stage, but the question is for how long / where? ⏱

Let’s compare this patch with the previous two patches:

-1- The previous correction was about -86%

-86% for the current correction in line with the green trend line and support area (10K – 12K).

2- At the end of each previous correction, MACD Changed from dark red to bright red.

To be exact, after 3 consecutive bottoms above bright red MACD Rods, we tend to reflect, confirmed break through the above EMA .

If we follow the same logic for this correction, we are still waiting for a third higher red column MACD . Will it be next month?

🗒 Meanwhile, we’ll be bearish And our main rejection will be about green support area .

Of course, before we buy, we will need to zoom in on the lower time frames and wait for the bulls to take over by breaking above the recent major weekly/daily high.

Always follow your own trading plan in terms of entry, risk management and trade management.

Good luck and God bless you!

All strategies are good. If managed properly!
~ rich

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