BTC at a key support level, watch for bounce or breakdown.
Link to Tradingview original article: BTC at a key support level, watch for bounce or breakdown. by RotiWokeman
BTCUSDT needs to hold the line between 8800 and 8725 to avoid a deeper correction to between 8430 and 8250.
BTC is about to give up the 4h higher low and I'd be very cautious as a bull if it breaks 8430. Currently there are opportunities for bottom-fishing bull positions, as we're in oversold territory on the hourly timeframe. The daily timeframe shows us there will need to be more consolidation in order for the RSI to cool off.
By the time this is out, the bounce will already be happening. If you want more realtime updates, follow the Discord channel.
Much love, Roti out.
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This has been for educational purposes only and is not intended as financial advice.
Update: 15min hidden bullish divergence in ETHUSDT. Flags forming in market in general. ETHUSDT is my play of choice, BTC is forming the best bull flag.
BTCUSDT
Bottom-fishing: set your stop at the breakdown level of the flag upon a bull entry.
ETHUSDT a break of 626 would negate a bull move for now, increased bear volume rejecting the 38.2% Fib support would be a big red flag. Search in higher timeframes for new bear target on a breakdown.
ETHUSDT 588 looks like a strong 4h support
BTC will find resistance here at the fib line, I expect other names to follow suit.