We might have potentially just bottomed on Bitcoin. We have two main indicators confirming this. For one, we have a bullish divergence on the 4H timeframe where price is going down but rsi is moving up. Secondly we just had a false breakdown setup where price closed below support of 43k just to bounce and close above 43K, likely creating a bear trap. I’m personally entering into a small position here as I had taken some profits a bit higher up.
That said, I’m not going in full position just yet as markets are still in a downtrend and musk is having an outsized impact on the markets, throwing traditional TA somewhat out of whack.
Lastly, I’d say be very careful, especially leverage trading.
That said, I’m not going in full position just yet as markets are still in a downtrend and musk is having an outsized impact on the markets, throwing traditional TA somewhat out of whack.
Lastly, I’d say be very careful, especially leverage trading.
