Looks like a solid retracement and a great bounce for 
BTC @ 7.8k
Here is the tricky part.
If the close is not above 8.4 or somewhere relatively close to it, then we might continue to go down.
If we close the day about 8.4 i can see 8.9 being the next major hurdle
on another note the trendline is still popping and holding but failure could mean a stronger retracement
and last but not least RSI4hr went slightly under 50 and came right back above (for the time being) showing resiliency for the bulls
Please do your DD! and Happy Trading.
I am not a financial advisor, please DD!
BTC @ 7.8kHere is the tricky part.
If the close is not above 8.4 or somewhere relatively close to it, then we might continue to go down.
If we close the day about 8.4 i can see 8.9 being the next major hurdle
on another note the trendline is still popping and holding but failure could mean a stronger retracement
and last but not least RSI4hr went slightly under 50 and came right back above (for the time being) showing resiliency for the bulls
Please do your DD! and Happy Trading.
I am not a financial advisor, please DD!
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.