Price is balancing on the proverbial knifes edge.
Note the RSI and slight bullish divergence.
Also note horizontal support at 31K, however price is just under the gaussian channel.
A trader could enter a smallish long play here with tight stops just under 31k and only add to said long if price re-entered the channel in the 31.8k range.
Said trader would then watch for resistance at the channel mid line currently at 34474 at the time of this writing.
Tomorrow is Grayscale day though, so extreme caution.... or at least a heightened sense of caution...is warranted.
Note the RSI and slight bullish divergence.
Also note horizontal support at 31K, however price is just under the gaussian channel.
A trader could enter a smallish long play here with tight stops just under 31k and only add to said long if price re-entered the channel in the 31.8k range.
Said trader would then watch for resistance at the channel mid line currently at 34474 at the time of this writing.
Tomorrow is Grayscale day though, so extreme caution.... or at least a heightened sense of caution...is warranted.