TheChartGuys

BTC Hourly Oversold Bounce

COINBASE:BTCUSD   比特幣 / 美元
Note that when in a big time bull trend, the first oversold conditions get bought more aggressively.
The first 5 min oversold bounce, the first hourly oversold bounce, etc.
This bounce occurred just above $7,000 psychological support and was market by a volume climax and a very strong $400 bounce.
Now that we have seen the bounce play out we need to be more cautious bullish as the odds of a lower high increase.
Lose the hourly higher lows and we will likely see the bears take back over for the near term future.
Still very healthy daily consolidation.
No chances of any correction?
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