The most likely scenario from the video yesterday is playing out on BTC.
Loss of the 4 hour higher lows was the indication a tightening range was likely. We are expecting a break Tuesday or Wednesday.
Bulls want to hold EMA12 on the daily on a back test of support, which hourly oversold already bounced off.
The weekly bearish reversal candle has us cautious of healthy weekly consolidation if the daily uptrend is lost.
Currently all cash and waiting for a break of the tightening range. Due to the weekly candle, a bull break would only be a day trade for me personally.
Loss of the 4 hour higher lows was the indication a tightening range was likely. We are expecting a break Tuesday or Wednesday.
Bulls want to hold EMA12 on the daily on a back test of support, which hourly oversold already bounced off.
The weekly bearish reversal candle has us cautious of healthy weekly consolidation if the daily uptrend is lost.
Currently all cash and waiting for a break of the tightening range. Due to the weekly candle, a bull break would only be a day trade for me personally.
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