From the 4H chart, price is able to reclaim $20000 and there is a market structure break indicating bullish set up. Based on indicators, MACD has a golden cross and below the axis, RSI also forming a bullish divergence and price stayed below EMA 200. This indicates that there will be possibly a relief bounce. However, the overall structure is looking not too healthy, because the selling power is way too strong.
Trading setup: Set up is provided by the arrow watch out for sub $20000, a sweep of the range, forming a deviation and closes below. However, this set up is only valid, if it formed a deviation and closes back above. Watch out for $20800, it is now acting as resistance.
Trading setup: Set up is provided by the arrow watch out for sub $20000, a sweep of the range, forming a deviation and closes below. However, this set up is only valid, if it formed a deviation and closes back above. Watch out for $20800, it is now acting as resistance.