The bulls and bears are fighting hard.
BTC is in a falling wedge at the moment, seems downward pressure is on us.
I keep seeing glimpses of hope, followed by high volume fast dumps. Is this being held down for some reason? probably.
It makes sense to accumulate at this level but what i am looking for is clear support and break of this bear trend, last night my trading wasn't too successful and i had to walk away and re assess the situation.
Its easy to short the market at the moment, but that could change quick.
Daily and weekly Charts say we are oversold, but there are too many scalpers taking 1-2-5% and dumping into the market fro it to move quickly.
Right now is a great time to watch the market and gain some experience and insight to how things happen at highs/lows.
the 15 min chart is bearish, we are in a falling wedge which may play out for a while, at least until buyer volume increases.
4hr chart - a double bottom followed by a strong bounce back to support would be a good indication of reversal.
The last few days of bleeding has taken us down past support levels and they are now acting as resistance.
Long term bullish, short term bearish - until we see clear indications of reversal an high buy volume sustained for more than a few minutes.
Great opportunity to either increase you're bags, short the market, or jump from BTC to tether a few times for some swing trades.
What do you think?
https://www.tradingview.com/u/angus01408/
https://coinalyze.net/
https://cryptowat.ch/markets/bitfinex/btc/usd/1m