XMR/BTC Oversold on the 4H and approaching 4 month support line

We are getting oversold on the 4 hour chart. I will enter at the support line at 235000sats with a tight stop loss at 220000. The target will be the top of the channel if we get a reversal so 320000. It is a 4/1 risk to reward ratio on a short-medium term trade.

My main concern is that BTC might hit the 200 moving average (now a resistance) and drop down taking alts with it.