A bit of a short squeeze yesterday when some bullish G20 news came out as a surprise.
It led to a very solid bounce, but we cannot lose the perspective on the daily, which is still a downtrend of lower highs.
Bulls will need to form a 4 hour higher low and higher high for a break of this daily resistance.
The weekly chart is looking for a higher low to form and we cannot be confident in one, until we see the daily lower highs break at a minimum.
Personally missed the best entries on the bounce yesterday as I was traveling,
but the short squeeze allowed for a very solid 5 minute gain to make up for it on ETH.
Currently all cash again and watching for an entry opportunity on consolidation, not farm from a consolidation support to use as a stop.
It led to a very solid bounce, but we cannot lose the perspective on the daily, which is still a downtrend of lower highs.
Bulls will need to form a 4 hour higher low and higher high for a break of this daily resistance.
The weekly chart is looking for a higher low to form and we cannot be confident in one, until we see the daily lower highs break at a minimum.
Personally missed the best entries on the bounce yesterday as I was traveling,
but the short squeeze allowed for a very solid 5 minute gain to make up for it on ETH.
Currently all cash again and watching for an entry opportunity on consolidation, not farm from a consolidation support to use as a stop.
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