TheChartGuys

BTC Tight and Bears have the Upper Paw

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
The daily range continues to tighten as anticipated in the video last night.
We can see it with more detail on the 4 hour chart that the bulls need to form a higher low this morning.
Daily inside bar is forming today but a long way to go before the candle closes.
RSI line is trending down towards the support line in the tightening pattern.
The overall trend favors the bears for continuation as it is much easier to continue the trend than it is to go against it and change momentum.
Anticipating a break of this tightening range within the next 24 hours.
$5,500 support if we drop to lower lows.

Comments

Happy to find ChartGuys on Tradingview...think you lads rock!
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Do you think BTC futures expiration of 29 June will have a impact on the price action?
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Spot on. There's no way I will long here with Bitfinex longs at a key resistance level.
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