BTC oversold, going to bounce for BITFINEX:BTCUSD by GabrielVasile — TradingView

Trend Analysis Technical Indicators Chart Patterns BTC BTCUSD BTCUSDT

trendanalysis indicator chartpattern btc btcusd btcusdt

BTCUSD showing oversold conditions, bouncing of 50% retracement and Daily 50 MA with a bullish hammer and Regular Bullish Divergence on 1H Chart

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Next resistences 8600 and 8900

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And it did bounce strongly creating a tweezer bottom.

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Trade closed: target reached:

If you longed, it's a good moment to liquidate your long just to be on the safe side because we're close to resistance.

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It looks like we're going to 8.2 again and this time we might break through to test 7.8.

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Volume shows the bulls are tired.

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I expect a drop to 7800

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This looks to me like a bear flag so far so I still believe we will see a drop

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The bulls are stronger than I thought, FUD seems to be already incorporated, very few sellers left

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