My earlier update:
BTC is currently testing the support at $7922. The RSI hit a low of 19 and bounced back I have marked a couple of price ranges when the RSI was that low. A minimum of 8-9% bounce was followed. Will it bounce now? We will take a safe position only when $8034 is broken and with good volume, it will be tough to catch a close on a 4 hour chart.
BTC is currently testing the support at $7922. The RSI hit a low of 19 and bounced back I have marked a couple of price ranges when the RSI was that low. A minimum of 8-9% bounce was followed. Will it bounce now? We will take a safe position only when $8034 is broken and with good volume, it will be tough to catch a close on a 4 hour chart.
Note
Minor Bounce Maybe on the move ( Risky Long PositionTrade)If you have the risk appetite a long position on the move because of the bullish divergence on the OBV.
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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.