Further showing the bulls have digested the Bitfinex move, we have broken the $5,295 top of the bounce which was a key level for me as far as "proving it" goes. Note things can still come up that are negative in this story but for now the bulls are back to having their sights on recent highs. We just saw a 4 hour inside bar break bearish, meaning a higher low has to form, ideally holding he back test of EMA support. ETH and LTC continue to show more extreme moves, harder dump on the news and stronger bounce on the recovery. LTC has been a bit of a leader on moves that can give clues to other names as to what to expect short term. I personally will not look for bearish action as long as there is a 4 hour uptrend. Reminder that charting names on bitfinex can be a bit deceiving due to USDT. Best to chart names /USD.
I agree with you guys! The bulls are back and we are watching this closely. In a long trade right now and managing it with a stop loss and scaling out! Thanks for the awesome content guys! Been following you for over 3 years now and love all the content you guys produce. Thanks!!