BitcoinShort
BTCUSD in oversold region - quick short scalping here
Updated
1hr BTCUSD Bitstamp shows it has reached oversold region. It will be an area of "interest".
I expect a short retrace to the blue/orange trendline till it recovers from the oversold region. After that it will make another leg for long.
I expect a short retrace to the blue/orange trendline till it recovers from the oversold region. After that it will make another leg for long.
Order cancelled
As it broke the channel and went above, its better to close position now and wait for a better entry on short. BTCUSD is oversold in 4hr too. A small correction will happen sooner than later. Wait for better entry with price action.Note
And there you go. Price dipped. RSI recovered from oversold position.Volume is good and selling pressure is still greater than buying pressure.
Price remains in the "area of interest" I expect it to dip a bit further before bouncing up
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