TheChartGuys

BTC Daily Inside Bar Likely

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
BTC is bouncing but it is not doing much impressive on the 4 hour chart.
We are making our way to test EMA resistance for the first time on this move.
If we reject and just set a 4 hour lower high, the bears remain in complete control.
Some individual alt names like EOS, ETC, XRP, XLM all saw individual pumps and bigger moves than BTC .
The daily inside bar is likely due to the range of yesterday's candlestick .
Bulls will need to break it bullish in order to see a bounce on the daily and the anticipated lower high set.
At this point bulls can be scouting alts for pumps but as for BTC I do not see a bullish entry at these levels.
Bulls are better off patiently waiting on the daily chart to gain more favor. Without news it is likely we will not head back to the recent high this week.
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What about a bullish continuation from last week?

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btc overview you need to know
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Hmmm, interesting. I am also longer term bearish, but I thought if we break 6534, which is hourly EMA 100, very important level, and confirm hourly inverse H&S, we might get short term bullish action - with a great caution of course. But maybe you just trade higher timeframes from 4 hour up so yes from your POW no entry :-) Anyway I think after this short term bullish action or correction or whatever is coming, we might get perfect entries for shorts.
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