Slow bounce after the dump is trying to play out and you can just watch 1 time frame at a time with a sluggish EMA resistance test. First it was the 5 min, then 15 min, now we are on to the hourly.
This is an example of sideways trading while hourly EMA resistances drop down, as opposed to bouncing back to those levels.
This kind of "bounce" is becoming well known in the crypto space... and is pretty rare in the stock world.
If we get over these EMA resistances, we zoom out and do it all again on the 4 hour.
Note the RSI levels have all cooled off enough to allow for another leg down, which is certainly a possibility.
I still have a small ETH bounce positions, hovering slightly profitable. I will exit it with a rejection from hourly EMA resistance.
Technically BTC is still a daily higher low pattern, but obviously the size of this pullback is a big step back in bull progress.
This is an example of sideways trading while hourly EMA resistances drop down, as opposed to bouncing back to those levels.
This kind of "bounce" is becoming well known in the crypto space... and is pretty rare in the stock world.
If we get over these EMA resistances, we zoom out and do it all again on the 4 hour.
Note the RSI levels have all cooled off enough to allow for another leg down, which is certainly a possibility.
I still have a small ETH bounce positions, hovering slightly profitable. I will exit it with a rejection from hourly EMA resistance.
Technically BTC is still a daily higher low pattern, but obviously the size of this pullback is a big step back in bull progress.
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