Bitrageur

Bitrageur Updated 

Just some basic support levels check on ETH. The 575 didn't act as a resistance on the upside but is acting as support on the downside. Rejected downward movement more than once at this level,so a close below 550-560 on the daily will take it straight to 465-475 which should serve as support. P.S: This is my first trading idea, and I'm here to learn. No problem...

Bitrageur

There is a bullish divergence on the RSI on the 4hr chart, which hasn't showed up in the Daily chart (yet), but comparing the present scenario where BTC has retraced over 70% from high , with NIFTY in 2009 (link below) where it retraced over 60% and there too we can see this bullish RSI divergence and a formation of a double bottom. So even if BTC drops to 6k...