BTC has been consolidating for many hours following the mini short squeeze yesterday.
The bears have contained the price, and closed thousands of shorts in the process.
There is no longer the potential for a short squeeze as the bulls let the bears off the hook.
The only hope now is that the bears switch to bullish to see continuation.
Most coins in the crypto space MUST see continuation today and a green day to confirm the reversal candle from yesterday.
Break the low of consolidation and it will be a set back keeping the bears in control.
As long as we see upper wicks, it shows me bears defending resistance and keeping control.
The bears have contained the price, and closed thousands of shorts in the process.
There is no longer the potential for a short squeeze as the bulls let the bears off the hook.
The only hope now is that the bears switch to bullish to see continuation.
Most coins in the crypto space MUST see continuation today and a green day to confirm the reversal candle from yesterday.
Break the low of consolidation and it will be a set back keeping the bears in control.
As long as we see upper wicks, it shows me bears defending resistance and keeping control.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
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
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.