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.