These two levels are THE range to be watching on BTC as we head into Q4 2019 to dictate momentum to end the year. Bears had full control yesterday, and we have yet to see much meaningful bounce on the hourly and 4 hour charts. Bulls backs are against the wall and they must defend this level to remain inside the pattern. I will have to see a 4 hour trend change to believe they can pull it off and we have not even seen a 4 hour bounce start yet.
If I am looking to play this broader pattern there are multiple ways to do it. I can bottom fish $9,300 support with an entry down here and hope for enough of a bounce to remain inside the equilibrium. If I am looking bearish, 4 hour RSI levels are at a point where I would not be comfortable entering a stop short on a break of $9,300. I would want to see a bounce and a daily lower high, cooling things off and recharging the bears first. Anything under $10,379 is a daily lower high so I would top fish that level after we bounced a few % off the lows.
In reality I personally will be traveling this week, so I will only be making quick flips like an LTC oversold bounce flip like yesterday 63s avg to 65s avg. I will potentially bottom fish $9,300 if we get another push down with no bear follow through.
LTC weekly bear flag is alive and well, and will confirm if BTC breaks this pattern bearish. That would be a cautionary red flag to all alt coins for the potential of weekly lower lows.
If I am looking to play this broader pattern there are multiple ways to do it. I can bottom fish $9,300 support with an entry down here and hope for enough of a bounce to remain inside the equilibrium. If I am looking bearish, 4 hour RSI levels are at a point where I would not be comfortable entering a stop short on a break of $9,300. I would want to see a bounce and a daily lower high, cooling things off and recharging the bears first. Anything under $10,379 is a daily lower high so I would top fish that level after we bounced a few % off the lows.
In reality I personally will be traveling this week, so I will only be making quick flips like an LTC oversold bounce flip like yesterday 63s avg to 65s avg. I will potentially bottom fish $9,300 if we get another push down with no bear follow through.
LTC weekly bear flag is alive and well, and will confirm if BTC breaks this pattern bearish. That would be a cautionary red flag to all alt coins for the potential of weekly lower lows.
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