Obviously bitcoin is giving us the wobbles. But besides bitcoin, the ONE/USDT and ONE/BTC charts are giving us a lot of signals for a bounce. (a sort of dead cat bounce also given how oversold it is).
Youve got bullish divergence on the 12 hour here. The 1 day chart the RSI is just about flat, whilst the price declines, but nonetheless, price is at support (albeit declining support).
On the LTF youve got an overhead diagonal resistance, that could easily be invalidated, as well as, bullish divergence on the 1 hour.
Moving over to the ONE/BTC chart, we are in a similar situation, price has fallen to support, with divergence on the 12 hour and the 1 hour. Again, the resistance is so close, and could be easily invalidated. I could see ONE/BTC rallying 10% quite easily.
Will try and get as many pictures of charts down below to illustrate the thinking here.
Youve got bullish divergence on the 12 hour here. The 1 day chart the RSI is just about flat, whilst the price declines, but nonetheless, price is at support (albeit declining support).
On the LTF youve got an overhead diagonal resistance, that could easily be invalidated, as well as, bullish divergence on the 1 hour.
Moving over to the ONE/BTC chart, we are in a similar situation, price has fallen to support, with divergence on the 12 hour and the 1 hour. Again, the resistance is so close, and could be easily invalidated. I could see ONE/BTC rallying 10% quite easily.
Will try and get as many pictures of charts down below to illustrate the thinking here.
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really for entry here, we would need some confirmation, like a break of overhead resistance, either from the USDT or BTC pairing. Or a green hammer candle on a higher time frame. Or even, a fake out to the downside; with bitcoin looking like it is, think this could well happen.
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