Hi All, Crypto sludge here.
Last 5 hours, BTC has been indecisive in market direction, we can clearly see this on the 1H chart.
All the "1"'s above all the candles indicate that price kept flipping, and no direction was yet to be found.
StochRSI however is almost in the oversold area.
But the 4H chart, shows us something else, we have just finished a full TD9 down count, and got a 9 BUY signal. The usual technical followup to this, is a 1-4 candle reversal (in this case goes up).
Also the 4H stochRSI has been in the oversold area for quite some time and is starting (very slightly) to point up, furthermore, we just had a technical breakout from the Ichmoku cloud on the same 4H chart, which again technically turns this chart bullish.
If you are feeling brave, your stop loss on this trade is the purple TD risk line @ 7295$.
I am still fairly bearish on longer time frames, but this might be a short trade opportunity but remember this is a 4H chart trade, so act accordingly :)
Trade ON!
Crypto sludge