BTCUSDT is currently in a downward pressure race between the 12h and 1d timeframe.
It is looking highly likely that the 1d timeframe will win the race, as the White Energy in the 12h timeframe is not even close to the 50 level yet, but the Red RSI in the 1d timeframe is already at the 51 level.
Once the Red RSI crosses below the 50 level in the 1d timeframe, a downward pressure race between the 1d and 2d timeframe will be triggered, where for reversal of price action to occur, the White Energy in the 1d timeframe have to cross above the 50 level BEFORE the Red RSI in the 2d timeframe crosses below the 50 level.
In this period of downward pressure, if price continues to fall, the Yellow Basis in the 3d and 4d timeframe should provide some support (or White LOWER B Band in the 2d timeframe as above).
With the Green Line already below the 50 level in the 4d timeframe, there is also a CHANCE for the price to wick down to the Yellow Basis (currently at ~46k) before bouncing up to the 48k~50k region where we find some support there.
It is looking highly likely that the 1d timeframe will win the race, as the White Energy in the 12h timeframe is not even close to the 50 level yet, but the Red RSI in the 1d timeframe is already at the 51 level.
Once the Red RSI crosses below the 50 level in the 1d timeframe, a downward pressure race between the 1d and 2d timeframe will be triggered, where for reversal of price action to occur, the White Energy in the 1d timeframe have to cross above the 50 level BEFORE the Red RSI in the 2d timeframe crosses below the 50 level.
In this period of downward pressure, if price continues to fall, the Yellow Basis in the 3d and 4d timeframe should provide some support (or White LOWER B Band in the 2d timeframe as above).
With the Green Line already below the 50 level in the 4d timeframe, there is also a CHANCE for the price to wick down to the Yellow Basis (currently at ~46k) before bouncing up to the 48k~50k region where we find some support there.