LazyBear

BTC - Go all-in short already?

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
I know we all love to short BTC all the time, but wanted to list some things before going all-in 50x immediately :)
  • Price showed a nice bounce near that RSI support zone . RSI showed a 12hr OS signal there.
  • RSI div between the down-steps.
  • Note the OS signals in RSI MTF pane. Last leg to 250 showed 2 timeframe OS signals, while the leg to 236 showed 3 timeframe signals. There still is the possibility of another short leg down to retest that support zone , expecting to see all green in RSI there if it happens. Usually, that is a good bounce signal.
  • %R MTF has started showing OB on lower timeframes (4hr).

Will wait to see how the retest goes. Breaking down this 230 level in the next retest is a clear bearish cycle start, of course.

1D view:
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