Since Friday, February 6th, the Bulls finally started barking back and, more importantly, they followed it up with a bite. As of today, price is up 15.18%. That is not noise, that is presence.
The 1W Internal Demand Range is currently holding as support for the Bulls, but the real question is simple. Is it enough?
Can the Bulls pull the Uno reverse card and flip this month’s candle back to bullish? Can they reclaim price back into the Macro Range and change the entire conversation?
That is going to take real momentum from the Bulls. No shortcuts, no hopium. Still, credit where it is due. After getting trampled by the Bears for almost 5 straight months, the Bulls are not dead. They are alive, breathing, and swinging back.
Now here is the part nobody wants to ignore. The Bulls better hope the Bears did not just step out for a coffee break. If the Bears return with full force, they can easily push price down to sweep the 48.9k low. And if we see a monthly candle close below that level, that is the market clearly telling us that 30k is back on the table.
The 1W Internal Demand Range is currently holding as support for the Bulls, but the real question is simple. Is it enough?
Can the Bulls pull the Uno reverse card and flip this month’s candle back to bullish? Can they reclaim price back into the Macro Range and change the entire conversation?
That is going to take real momentum from the Bulls. No shortcuts, no hopium. Still, credit where it is due. After getting trampled by the Bears for almost 5 straight months, the Bulls are not dead. They are alive, breathing, and swinging back.
Now here is the part nobody wants to ignore. The Bulls better hope the Bears did not just step out for a coffee break. If the Bears return with full force, they can easily push price down to sweep the 48.9k low. And if we see a monthly candle close below that level, that is the market clearly telling us that 30k is back on the table.
Red Elephant
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Need More TA? The Elephant Jungle: redelephant818.substack.com/?utm_campaign=profile_chips
Trade On KCEX Lowest Fees: kcex.com/register?inviteCode=TV04VP
Follow On X (Twitter): x.com/RedElephant818
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Red Elephant
Need More TA? The Elephant Jungle: redelephant818.substack.com/?utm_campaign=profile_chips
Trade On KCEX Lowest Fees: kcex.com/register?inviteCode=TV04VP
Follow On X (Twitter): x.com/RedElephant818
Need More TA? The Elephant Jungle: redelephant818.substack.com/?utm_campaign=profile_chips
Trade On KCEX Lowest Fees: kcex.com/register?inviteCode=TV04VP
Follow On X (Twitter): x.com/RedElephant818
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.