BTC broke $8k and bounced with hourly RSI levels down around 21.
At this point we are still seeing 4 hour lower highs and lower lows, which means the bears still control the trend.
We will need to see a higher low and higher high in order to be confident our new daily support is forming.
I personally will not enter again without oversold hourly conditions in the low 20s, or a change in the 4 hour trend.
Flipped a small position of ETH last night as my staggered bids started to fill under $660.
Note the declining volume on the 4 hour candles for the bounce, another reason to be looking for a 4 hour lower high to be set.
ETH still holding daily support which BTC broke long ago.
At this point we are still seeing 4 hour lower highs and lower lows, which means the bears still control the trend.
We will need to see a higher low and higher high in order to be confident our new daily support is forming.
I personally will not enter again without oversold hourly conditions in the low 20s, or a change in the 4 hour trend.
Flipped a small position of ETH last night as my staggered bids started to fill under $660.
Note the declining volume on the 4 hour candles for the bounce, another reason to be looking for a 4 hour lower high to be set.
ETH still holding daily support which BTC broke long ago.
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