On Macd and RSI there's bullish divergence on btc 4 hr chart. I'm thinking we are getting close to a run up. Also, btc is at the bottom of the wedge. The shorters know this and if you're short I'd be getting nervous. The risk/reward to short is looking worse since we just hit the .618 fib. Could it still hit the .786 fib? It sure can, but imo it's not worth shorting as of now unless this previous low breaks. Hodl on!
Note
Next areas of support are 6k and 5k
RSI is starting to get ridiculously low levels. It's at 25 as of now. BTC is starting to get way oversold. The lowest the RSI has been in the past few years was low 20s. The lowest it's ever been was 16. If shorting you need to keep an eye on it.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.