BTCUSDT Bullish price action on 1H chart may be bottom forming

23 Şub 2021

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.

23 Şub 2021

Not

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.