BTC has pulled back more than the bulls would like, giving back over 50% of the bounce.
We continue with hourly lower highs and lower lows as long as EMA 12 is resistance driving the price down.
Bulls must see an hourly higher low and higher highs to shift momentum back to bulls.
Goal for bulls is to form a lower wick on the daily candle today, showing bulls buying the dip.
The odds increase for a daily equilibrium the more we pull back from the recent highs.
Bears are riding the trend and bulls are looking for the daily higher low. More patient traders will wait until we bounce around within the daily bounce range, and break to continuation or fall back down to $7,000. Weekly EQ must see bulls change the daily trend.
We continue with hourly lower highs and lower lows as long as EMA 12 is resistance driving the price down.
Bulls must see an hourly higher low and higher highs to shift momentum back to bulls.
Goal for bulls is to form a lower wick on the daily candle today, showing bulls buying the dip.
The odds increase for a daily equilibrium the more we pull back from the recent highs.
Bears are riding the trend and bulls are looking for the daily higher low. More patient traders will wait until we bounce around within the daily bounce range, and break to continuation or fall back down to $7,000. Weekly EQ must see bulls change the daily trend.
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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.