LabyrinthCapital

$BTC 4H chart key levels and thoughts.

BITSTAMP:BTCUSD   Bitcoin
$BTC 4H: $BTC orderflow is very bearish rn. I think we should have a little relief pump to fill imbalance at the 45k range before dumping further. RSI very low on the daily indicating a bottom soon too, however I think a realistic bottom for BTC is around 37k or below. EMA21 and MA40 bearish on high TF's. I wouldn't long swings anytime soon until they cross. A good indication if we are bottoming out is if these MA's cross on daily. If BTCD keeps moving up Alts are going to bleed even more. I still see 28k as a key level we need to reach before we continue the bull run.
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.