Slowwww and steady recovery attempt from the bear attack yesterday.
1 by 1 we see EMA resistances grinded against and eventually surpassed as resistance.
Now the battle is on for the hourly EMA12/26 resistance.
Break it and we zoom out to the 4 hour EMA resistance.
Notable that as of right now bulls are still holding the daily uptrend and daily EMA12 support.
Bears will have to follow through with another leg down to convince bulls the temporary top is in and weekly consolidation is likely.
Global slowdown fears with red markets around the entire world today, CNBC continues to talk about BTC as a "hedge". This is a good narrative for bulls as long as weakness in stocks continue.
1 by 1 we see EMA resistances grinded against and eventually surpassed as resistance.
Now the battle is on for the hourly EMA12/26 resistance.
Break it and we zoom out to the 4 hour EMA resistance.
Notable that as of right now bulls are still holding the daily uptrend and daily EMA12 support.
Bears will have to follow through with another leg down to convince bulls the temporary top is in and weekly consolidation is likely.
Global slowdown fears with red markets around the entire world today, CNBC continues to talk about BTC as a "hedge". This is a good narrative for bulls as long as weakness in stocks continue.
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