first of all i must admit i havent been active at all.So here is a bitcoin short term price update.
1 We have downtrend on the four hour chart
2 we broke the Rsi downtrend
So the latter may cause a retest of the downtrend line which could either break it or further dump But how can you trade this ????
REJECTION:
so if we see a rejection you might wanna see it on 4h candles for extra confirmation and you could also combine it with some moving averages for more validity
BREAKOUT: Dont just jump in as soon as you see a break on 5 min chart wait for confirmation from volume (we need to see volume spike) wait for a retest and a bounce for extra confirmation you could also use the 4h close
No financial advice BTW
1 We have downtrend on the four hour chart
2 we broke the Rsi downtrend
So the latter may cause a retest of the downtrend line which could either break it or further dump But how can you trade this ????
REJECTION:
so if we see a rejection you might wanna see it on 4h candles for extra confirmation and you could also combine it with some moving averages for more validity
BREAKOUT: Dont just jump in as soon as you see a break on 5 min chart wait for confirmation from volume (we need to see volume spike) wait for a retest and a bounce for extra confirmation you could also use the 4h close
No financial advice BTW