BTC Bulls in a Rut
We are currently in a downtrend on the weekly, daily, and 4H time frames, giving complete control to the bears... but we are not seeing any all out dumps or extreme RSI levels.
This reminds bears to not get too comfortable, as the recent nature of bull moves the last couple of months have been very hard and fast out of nowhere. Note the 20 day average volume is also declining, which is setting us up for a volume and volatility spike, as tight ranges open up again.
I personally will still be on the sidelines patiently waiting for a risk to reward scenario I like, and not interested in any bounces without daily and 4H RSI oversold.
This reminds bears to not get too comfortable, as the recent nature of bull moves the last couple of months have been very hard and fast out of nowhere. Note the 20 day average volume is also declining, which is setting us up for a volume and volatility spike, as tight ranges open up again.
I personally will still be on the sidelines patiently waiting for a risk to reward scenario I like, and not interested in any bounces without daily and 4H RSI oversold.
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Disclaimer
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.
Checkout our full trading resources online chartguys.com
Improve your TA with our free ebooks chartguys.ac-page.com/lp-all-ebooks?utm_source=tradingview&utm_medium=social
Improve your TA with our free ebooks chartguys.ac-page.com/lp-all-ebooks?utm_source=tradingview&utm_medium=social
Disclaimer
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.