BTC not seeing the normal slow grind consolidation after pumps we are used to.
Overnight has been a constant battle between bulls and bears.
We saw a couple bear pushes down that were met with bulls market buying to save the setup.
The last 2 days we have seen a pump at 9:15 AM Eastern and many are watching for it again today.
All eye on low $6,800 resistance which has rejected the price the last few attempts this month.
We do have a tightening range with the wicks on the hourly but keep in mind these wicks are triggering stops in both directions in this choppy environment. Any trade entries need to factor in the potential of this whipsaw action making risk to reward management much more difficult.
Overnight has been a constant battle between bulls and bears.
We saw a couple bear pushes down that were met with bulls market buying to save the setup.
The last 2 days we have seen a pump at 9:15 AM Eastern and many are watching for it again today.
All eye on low $6,800 resistance which has rejected the price the last few attempts this month.
We do have a tightening range with the wicks on the hourly but keep in mind these wicks are triggering stops in both directions in this choppy environment. Any trade entries need to factor in the potential of this whipsaw action making risk to reward management much more difficult.
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.
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.