BTCUSD in oversold region - quick short scalping here

6 thg 6, 2017

1hr BTCUSD Bitstamp shows it has reached oversold region. It will be an area of "interest".
I expect a short retrace to the blue/orange trendline till it recovers from the oversold region. After that it will make another leg for long.

6 thg 6, 2017

Đã hủy lệnh

As it broke the channel and went above, its better to close position now and wait for a better entry on short. BTCUSD is oversold in 4hr too. A small correction will happen sooner than later. Wait for better entry with price action.

6 thg 6, 2017

Ghi chú

And there you go. Price dipped. RSI recovered from oversold position.
Volume is good and selling pressure is still greater than buying pressure.
Price remains in the "area of interest" I expect it to dip a bit further before bouncing up