BTC bulls have now seen a clear hourly trend change, hourly EMA as support and looking for the hourly bull cross of the 12/26 EMAs.
The top of the last bounce attempt $11,840 was tested this morning and so far is rejecting the price.
If bulls are going to hold the daily uptrend, we will have to see a break of this resistance level.
4H EMA resistance is lining up with price level resistance, so we may need a 4H higher low before bulls make another attempt.
Daily inside bar is likely to form today and it would have to break bull for us to be confident the daily higher low is set.
Setting up for a key weekend for the bulls to try and prove themselves.
I personally have scaled out enough position to lower my cost basis as I talked about in the video and to give the bulls a chance to try and see this pattern through.
The top of the last bounce attempt $11,840 was tested this morning and so far is rejecting the price.
If bulls are going to hold the daily uptrend, we will have to see a break of this resistance level.
4H EMA resistance is lining up with price level resistance, so we may need a 4H higher low before bulls make another attempt.
Daily inside bar is likely to form today and it would have to break bull for us to be confident the daily higher low is set.
Setting up for a key weekend for the bulls to try and prove themselves.
I personally have scaled out enough position to lower my cost basis as I talked about in the video and to give the bulls a chance to try and see this pattern through.
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