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.