BTC has seen a 12.5% move down over the last 4 days ranging from $4000, to $3600. RSI entered oversold region on the 9th of Jan and a small bear flag looks to be forming on the 4hour.
I expect we'll seen another leg down to new yearly lows around $2800 over the coming weeks, I will be staggering my long entries within the green boxes. If we see momentum switch bullish again I will be looking to enter into a short term long around $3920 and will most likely hedge with a TRX short. Clear rounding and staggered bullish divergence on the chart could align nicely with lack of oversold momentum which could propel price levels higher over the coming days if $3500 region fails to break to the downside.
I expect we'll seen another leg down to new yearly lows around $2800 over the coming weeks, I will be staggering my long entries within the green boxes. If we see momentum switch bullish again I will be looking to enter into a short term long around $3920 and will most likely hedge with a TRX short. Clear rounding and staggered bullish divergence on the chart could align nicely with lack of oversold momentum which could propel price levels higher over the coming days if $3500 region fails to break to the downside.