After the first 3 days of the bounce started shaping up as a potential bear flag, the bulls are breathing a sign of relief for the bounce follow through that is making the daily equilibrium more likely.
Bulls are looking for one more push to the low $11,000s to get to the midway point within the range. Watching the 4 hour uptrend to see how long the bulls can keep control.
The weekly chart has bounced off EMA12 for a 4th time recently and the burden of proof longer term is on the bears to lose that support in order to see monthly consolidation.
Currently still in a 12% position from the scaling in bounce. I have yet to decide if I will look to exit on the daily lower high, or try and hold through the equilibrium for the potential of a bull break. Being a smaller position gives me the flexibility with decisions like that.
Bulls are looking for one more push to the low $11,000s to get to the midway point within the range. Watching the 4 hour uptrend to see how long the bulls can keep control.
The weekly chart has bounced off EMA12 for a 4th time recently and the burden of proof longer term is on the bears to lose that support in order to see monthly consolidation.
Currently still in a 12% position from the scaling in bounce. I have yet to decide if I will look to exit on the daily lower high, or try and hold through the equilibrium for the potential of a bull break. Being a smaller position gives me the flexibility with decisions like that.
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