We have now seen two instances in the past couple days with a bear break of the 4 hour uptrend and no bear follow through to confirm a downtrend.
The daily chart for BTC has the psychology of a cup and handle pattern with the inability to break resistance and current bull flag.
My visual guide on the daily remains EMA12 support which will have to be lost as support in order for bears to gain any traction.
Yesterday was another example of BTC 15 min oversold climax signaling a good entry for bulls, with significant bounce follow through.
If we are going to see daily continuation with BTC it will need to come with a clear volume spike compared to recent lower volume trading the last week+.
The daily chart for BTC has the psychology of a cup and handle pattern with the inability to break resistance and current bull flag.
My visual guide on the daily remains EMA12 support which will have to be lost as support in order for bears to gain any traction.
Yesterday was another example of BTC 15 min oversold climax signaling a good entry for bulls, with significant bounce follow through.
If we are going to see daily continuation with BTC it will need to come with a clear volume spike compared to recent lower volume trading the last week+.
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