BTCUSDT Bullish price action on 1H chart may be bottom forming
I am not saying this with certainty but these are the types of price action that I watch out for if I want to trade reversals.
We seem to be forging a possible higher low with the current price action. Could this be the first higher low that kicks off a bull leg? I think the context is valid for it so something tells me it is but we need confirmation first. Looking to see if a higher high materializes from here.
Note that a reversal here is lower probability (maybe about 40% chance or less) so this is definitely not trading advice.
We seem to be forging a possible higher low with the current price action. Could this be the first higher low that kicks off a bull leg? I think the context is valid for it so something tells me it is but we need confirmation first. Looking to see if a higher high materializes from here.
Note that a reversal here is lower probability (maybe about 40% chance or less) so this is definitely not trading advice.
Comment:
Actually surprised that these same levels have held for these long. Looking at the 4H chart now (see below). I feel stronger about 4,600 being a key to reversing this bear trend. Let's see how things go in the coming hours/days.
