Bitcoin had some correctional move recently with many people expecting lower lows, therefore shorting a lot.
I think this could be the bottom already and taking some risk with a small long trade here.
TD sequential showing a red 9 signaling the end of a down trend on both, 1hr and 4hr candlestick and my Oszillators are all in oversold territory.
The Squeeze Momentum is again in squeeze-release-mode so be careful, worst case for bulls here would be testing the Weekly Support 1 pivot point around 7760 USD.
First resistance to watch would be around 8300, where the weekly pivot point and the 4hr 50 Moving Average is around, than I expect some testing of the 200MA and the Weekly Resistance 1 pivot Point.
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I think this could be the bottom already and taking some risk with a small long trade here.
TD sequential showing a red 9 signaling the end of a down trend on both, 1hr and 4hr candlestick and my Oszillators are all in oversold territory.
The Squeeze Momentum is again in squeeze-release-mode so be careful, worst case for bulls here would be testing the Weekly Support 1 pivot point around 7760 USD.
First resistance to watch would be around 8300, where the weekly pivot point and the 4hr 50 Moving Average is around, than I expect some testing of the 200MA and the Weekly Resistance 1 pivot Point.
If you like this analysis please like & share it and join me on telegram @cryptocrew_trading
Cheers
Note
Got some small lower low but with bullish divergence in all oscillators Note
Another Sign that bears are weakening: Bearish squeeze momentum coming to an end:Note
So far this played out great and my Long is in a good profit. Now we have some small bullish momentum and the squeeze released, calling for a good trading volatility. I expect the price to test the weekly pivot, playing around with it as short term resistance using the 50 4hr Moving Average as Support, maybe looking the same like last week, where weekly R1 got used as resistance and 50MA (violet) as support:Note
Another crazy ‚margin trader killer‘ swing, lower than i though but still another good time to get in I this weekly S1 is holding as support: Note
Aight we reached weekly S2 for a new lower low, this is considered over now I fear 
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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.