BTC bulls held the low of consolidation and are bouncing significantly.
A few things to note for the broader setup:
1. Anything under $8,834 is a daily lower high
2. Weekly bull flags are forming and the burden of proof is on the bears to change that
3. This move is coming off the low and we will likely need a 4 hour higher low on consolidation today
4. LTC clear lead bull of the major 3 names as it is only 1-2% away from breaking the daily lower high
Patience for bulls looking for entry. The play will be either an entry on 4 hour consolidation or more patience to wait and see if the daily chart is indeed just going to give us a lower high and continued weekly consolidation.
IF the bulls were to form a weekly bull flag I believe there will be a decent amount of FOMO as MANY traders are holding out for low 7,000s or upper 6,000s. There are also bears waiting for the daily lower highs to make an entry.
A few things to note for the broader setup:
1. Anything under $8,834 is a daily lower high
2. Weekly bull flags are forming and the burden of proof is on the bears to change that
3. This move is coming off the low and we will likely need a 4 hour higher low on consolidation today
4. LTC clear lead bull of the major 3 names as it is only 1-2% away from breaking the daily lower high
Patience for bulls looking for entry. The play will be either an entry on 4 hour consolidation or more patience to wait and see if the daily chart is indeed just going to give us a lower high and continued weekly consolidation.
IF the bulls were to form a weekly bull flag I believe there will be a decent amount of FOMO as MANY traders are holding out for low 7,000s or upper 6,000s. There are also bears waiting for the daily lower highs to make an entry.
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