BitcoinUpdated BTC Support Ideas
Bullish Notes:
- BTC seems to be finding buyers sub-6k
- Support Zone established by the previous sell off intersects a long tread line from July and September
- Volume spikes potentially indicate buyer interest at these price levels
- Huge # of shorts
- RSI oversold on the daily, last time the daily reached the 30s it rallied up to $11,700
My position's average cost is currently $8200.
Currently plan to hold and will only reconsider this strategy if BTC breaks the local low established at $5900.
- Meeseeks
- BTC seems to be finding buyers sub-6k
- Support Zone established by the previous sell off intersects a long tread line from July and September
- Volume spikes potentially indicate buyer interest at these price levels
- Huge # of shorts
- RSI oversold on the daily, last time the daily reached the 30s it rallied up to $11,700
My position's average cost is currently $8200.
Currently plan to hold and will only reconsider this strategy if BTC breaks the local low established at $5900.
- Meeseeks
Note
Bullish Notes:
- Bullish 4HR RSI
- Could form higher low to coincide with .236 retracement level
Area to watch is around the local downtrend channel line around ~$8000, which also coincides with the .382 retracement level.
A break of this price level would help form a strongly bullish argument, as it currently serves both technically and psychologically as resistance.
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