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TheChartGuys
Jul 16, 2019 10:46 AM

BTC 4 Hour Consolidation  

Bitcoin / United States DollarCoinbase

Description

Currently watching the 12H chart for clarity, but the 4 hour gives us a bit more detail.
Bulls have to see a higher low and continuation on the 4 hour chart to be looking for the #D chart from videos to continue to tighten.
If this is the top of the bull move, it would favor the bears on the longer term setup.
Currently all cash and not seeing any short term setups that would have me enter again.
12H EMA resistance is rejecting the price and we will need a trend change on that time frame for the bulls to be comfortably within the 3 day tightening range.
Alt coins continue to struggle vs. BTC, but we will monitor their daily charts for a potential trend change as the Summer continues.

Comments
IrenaStory
Outstanding Analysis as always! =)
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