BTC Bulls have had some momentum the last few days, but is currently seeing a bearish reversal daily candle.
If the 4 hour uptrend is lost, we will look for a daily higher low to form.
The current 4 hour consolidation is healthy so we are not likely to lose the uptrend over the next 12 hours.
I will be interested in the bulls if we can see a break of daily lower highs.
If the lower high pattern remains, the bears keep control.
Changing the daily trend will begin to make the weekly chart interesting.
$6,823 is the level for the weekly downtrend to break in my opinion, and for the space to get exciting for bulls again.
If the 4 hour uptrend is lost, we will look for a daily higher low to form.
The current 4 hour consolidation is healthy so we are not likely to lose the uptrend over the next 12 hours.
I will be interested in the bulls if we can see a break of daily lower highs.
If the lower high pattern remains, the bears keep control.
Changing the daily trend will begin to make the weekly chart interesting.
$6,823 is the level for the weekly downtrend to break in my opinion, and for the space to get exciting for bulls again.
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Disclaimer
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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
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.