IS THE SHORT TIME FRAME SETTING UP A PULLBACK?
Zooming in from the 1D chart to look at the 4H as we are playing in the top of the 1D channels range. Here, we can see the 1D channel with the red dashed lines (yellow dashed lines are +/- 3 deviations).
Broadly, the volume is up, however the density of the volume is falling with each bullish impulse that is coming through. In addition to falling volumes, we can also see that the RSI is a lower high compared to the higher high on the spot price. Because we are yet to turn the corner on price; it is entirely possible that price continues to run from here - which is definitely a narrative that is being pushed hard at the moment ($100k by Christmas...). The mildly bearish argument here though, is that we are seeing a reversal signal on the 4H at the same point that the 1D is also indicating that price is at it's likely pivot point.
#crypto
Zooming in from the 1D chart to look at the 4H as we are playing in the top of the 1D channels range. Here, we can see the 1D channel with the red dashed lines (yellow dashed lines are +/- 3 deviations).
Broadly, the volume is up, however the density of the volume is falling with each bullish impulse that is coming through. In addition to falling volumes, we can also see that the RSI is a lower high compared to the higher high on the spot price. Because we are yet to turn the corner on price; it is entirely possible that price continues to run from here - which is definitely a narrative that is being pushed hard at the moment ($100k by Christmas...). The mildly bearish argument here though, is that we are seeing a reversal signal on the 4H at the same point that the 1D is also indicating that price is at it's likely pivot point.
#crypto
Trade closed manually:
After a little pullback, the bulls found some volume.
