BTC has a triple top of resistance and has now pulled back to test EMA 12 support on the 4 hour.
This support held last consolidation as 6 candles tested it before another leg up.
We were also consolidating upward in a wedge pattern which was another red flag for bulls as RSI was not cooling off.
So far no red flags during this consolidation and ETH/LTC were able to head to clear higher highs while BTC triple topped.
Bulls will potentially be looking for an entry when we have a clear low of consolidation to use as a stop level.
Keeping an eye on volume as increasing bear volume would be a red flag.
15 min trend needs to change to give us a base of consolidation as support.
This support held last consolidation as 6 candles tested it before another leg up.
We were also consolidating upward in a wedge pattern which was another red flag for bulls as RSI was not cooling off.
So far no red flags during this consolidation and ETH/LTC were able to head to clear higher highs while BTC triple topped.
Bulls will potentially be looking for an entry when we have a clear low of consolidation to use as a stop level.
Keeping an eye on volume as increasing bear volume would be a red flag.
15 min trend needs to change to give us a base of consolidation as support.
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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.