TheChartGuys

BTC Oversold Hourly Bounce Kind of Morning

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Currently placing bids in other names as we see BTC hitting hourly RSI in the mid 20s on GDAX.
Other exchanges RSI is not as low, but still at historical bounce level on the hourly on bitfinex.
There have been some better bounce opportunities in the other names recently which is why I will probably play ETH and LTC with another push down from BTC .
Scaling in patiently and not trying to nail the bottom, keeping plenty of cash to add if things get extreme.
We are seeing daily consolidation and the need for another daily higher low.
Looking for a change in the hourly trend to see a bounce on the 4 hour, and a likely lower high form at the top of the bounce.
Update? :)
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Supports are broken, what will happen next ?
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Right call



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Already flipped ETH and LTC for profit on this trade setup.
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Sounds like you are scaling in ( buying btc) expecting it to bounce UP soon? Perhaps BTC already finished its 5 wave up and
now it is correcting down to 9,000?
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Not playing Eth this week with possibility of FUD from the SEC legal sessions starting Monday to determime if ETH is a security asset class or not. Thanks and good hunting!
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