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BTC 4-hour RSI has fallen to 26—do you dare to pick up these bloody chips?
$BTC /USDT - Go LONG
Trading plan:
Entry: 61,919.2 – 62,102.2
SL: 60,869.0
TP1: 62,867.0
TP2: 63,437.9
TP3: 64,294.2
Why focus on this structure?
- The 1-hour EMA is supporting around 62,010, and the 15-minute RSI is already oversold to 26.87—an upside rebound is imminent.
- Although the trend is bearish, the 4-hour LONG signal scores 84; the entry range is 61,919–62,102, with TP1 targeting 62,867 straight ahead.
- SL at 60,869, with a risk-reward ratio over 3:1; this is currently the best time to play the left-side move.
Discussion:
Will this move reach TP2 first at 63,437, or will it fake a breakout to lure longs and then smash through the SL?