Last chart we were watching to see if the bull push up to $3658 would be it for upward movement. As described last chart, bears would be perfectly comfortable on daily chart with that being the lower high to then give them the momentum to seek a lower low with bulls desperately needing to hold $3425 support. Bulls caved yet again and bears dropped price back down. $3338 is currently that bottom and below that continues to remain $3129 from back in mid December. Thus far the bulls have not given this up which is fairly impressive as bears have been under minimal pressure the last several weeks. $3440 is a small resistance so marked it here but really watching $3658 and then $3766 again. If bulls fail to get back above $3658, its just the same exact pattern over again. More lower highs and the bulls trying to defend against short term lower lows. Problem is these short term lower lows continue to come in and creep up on our December low of $3129. There is only so much breathing room left for the bulls which again continues to make me very cautious. EMAs are back to serving as resistance so another area to keep a close watch on. Many alt coins are trending back lower as well and overall market is just boring. Less and less interest in the space lately but anyone seeking for a bull run should keep alerts on as these markets will bore you to death if needed before turning back up. I'll continue to set my alerts as we slowly trend lower, patiently wait and just be ready. Not much else you can do if you aren't shorting the market.
Just My 2 Sats!
Just My 2 Sats!
