Looking at the 1H chart currently:
Bullish signs:
Retrace into optimal fib zone for now
Some local higher lows
Clean break above 4040 would add bullishness
Bearish signs:
Struggling to stay above that white level which is also 0.5 of the range we're in right now
Made a swing failure which indicates a stop run was made for shorts
Clean break below 3730 (last...
So just earlier we saw Bitcoin drop below its existing trend line for support. Then it popped up back above that support meaning we had false breakout downwards. So I'm taking this as another confirmation for the existing trendline we are on. Currently we are relatively oversold on RSI, MACD has crossed indicating the end of the short term downtrend, and Volume is...
