BTC Slow Bounce, Watching 4 Hour ChartBTC dropped down and broke $8,000 support last night, leading to hourly RSI hitting 21.
This is a historical buy zone though protection against a bear flag and continuation to get the 4 hour oversold was needed.
The 4 hour chart still has EMA resistance and lower highs/ lower lows.
I personally had my first ETH orders fill and took some small profit before bed.
From here I will only be a buyer if we drop to lower lows under oversold conditions again, OR we change the trend on the 4 hour time frame.
The daily chart is forming a bullish reversal candle, but we will have to see a 4 hour higher low and bounce continuation to hold it.
Bulls liking the fact that an $8k break did not lead to further weakness.
Very clear criteria I am waiting on makes patience easy. Are we oversold? No. Have we changed the 4 hour trend? No.
Great... do nothing.
