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Bitcoin are you down down down down down? (BTCUSDT)

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Good day trader friends! I wanted to write a new short idea on BTC, as it's clearly headed down. Yes, the price action speaks for itself, but what about the indicators and supports? Where will BTC land?

For the indicators my subtitles on the 4 hr chart may be a little dramatic, but I think you get the point:
-RSI below 50 AND headed further down. Yes it's in the "oversold" zone but there are no signs of divergence, so we expect for price action to continue downwards.
-MACD in a similar situation: below 0 and going further down.
-Stoch is also in "oversold" zone, but unless the price action is ABOVE the 200 EMA(blue), this is not a strong signal to buy. You can also look to Stoch for divergence, in which there is none in this case. Yes, it may be "double bouncing" but this double bounce is not showing any positive divergence.

So where will our bitcoin beauty land? Well, when she fell from heaven last time, she found some support at the 8300s.. More recently however on the way up, the support was found in the 8500s. Since more recent supports/resistances almost always hold more weight, I imagine this will be the next life support for BTC if it needs it. This will be the target for this trend unless anything marks a turnaround.

Lastly and just as important: BTC has been seeing some crappy news very recently... I know crypto is usually a little more resistant to crappy news than the normal markets but I saw how the it affected BTC on the recent rally up. It would be foolish to think that the recent news wouldn't push it lower as well. I'm not big on writing about fundamentals on here, but it's always important to consider.

Hope this helps in long term/short term goals.

Stay healthy and be careful out there <3
-Doc

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Looks as if 9300s is serving some weak support at the moment. Also, there is some subtle positive divergence on RSI, but not enough to get me excited. If BTC breaks below the 9300s, it will serve as greater evidence for the downfall to the life support zone. If BTC can bounce from the 9300s with strong buyer volume, this could signal a reversal.

For now though, BTC is still tanking in almost every measure.

Don't Watch!
-Doc

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Associated graph for above comment for today:

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Looks as if BTC double bounced off the life support zone as of recent. I will open up with another trade idea once I have the time. For now I'll close this one.