BTC is seeing a 4 hour lower high and lower low pattern as the bulls try and form a daily higher low.
As I have said in the video, I believe our weekly lower high will be marked by a daily higher low... inability to see higher highs (lower high) and then a loss of daily higher lows with a break of support.
There are no red flags for the current consolidation unless we see increased bear volume and lack of bounces/ weak bear flags on the hourly or 4 hour.
Currently a patience game for bulls as our weekly $7,200 target has been hit and we are cautious of the weekly lower high.
Knowing things will be much more clear in a month or so when the weekly equilibrium breaks, makes it easier to hold off forcing trades.
Bulls who ARE looking to play this move can look for an entry around daily EMA 12/26 supports.
Bears are looking for entries on the 4 hour lower highs, and will want to protect their positions if 4 hour lower highs shift back to the bulls.
As I have said in the video, I believe our weekly lower high will be marked by a daily higher low... inability to see higher highs (lower high) and then a loss of daily higher lows with a break of support.
There are no red flags for the current consolidation unless we see increased bear volume and lack of bounces/ weak bear flags on the hourly or 4 hour.
Currently a patience game for bulls as our weekly $7,200 target has been hit and we are cautious of the weekly lower high.
Knowing things will be much more clear in a month or so when the weekly equilibrium breaks, makes it easier to hold off forcing trades.
Bulls who ARE looking to play this move can look for an entry around daily EMA 12/26 supports.
Bears are looking for entries on the 4 hour lower highs, and will want to protect their positions if 4 hour lower highs shift back to the bulls.
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Checkout our full trading resources online chartguys.com
Improve your TA with our free ebooks chartguys.ac-page.com/lp-all-ebooks?utm_source=tradingview&utm_medium=social
Improve your TA with our free ebooks chartguys.ac-page.com/lp-all-ebooks?utm_source=tradingview&utm_medium=social
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.