Weak bounce attempt on the 4 hour is currently forming another potential bear flag.
The volume for the bulls continues to decrease as there is no reason for bulls to get excited nor bears to cover short positions.
Daily inside bar potentially forming today and we should see a spike in volume this morning on the hourly to give us an idea who will continue to control today in the short term.
If we do not see bulls put up volume in BTC or ETH, we cannot trust this bounce as they are not "proving" anything to us.
RSI levels are cooling off and bounce players should protect against another potential leg down.
Lack of support on the daily and weekly put ETH and LTC in a much more fragile position than BTC.
The volume for the bulls continues to decrease as there is no reason for bulls to get excited nor bears to cover short positions.
Daily inside bar potentially forming today and we should see a spike in volume this morning on the hourly to give us an idea who will continue to control today in the short term.
If we do not see bulls put up volume in BTC or ETH, we cannot trust this bounce as they are not "proving" anything to us.
RSI levels are cooling off and bounce players should protect against another potential leg down.
Lack of support on the daily and weekly put ETH and LTC in a much more fragile position than BTC.
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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.