A flash flush last night taking most everything down a notch was marked by a loss of the 4 hour uptrend on BTC.
I honestly am surprised the bulls held up so long after their failed bull break attempt.
Now we are back to consolidation on the daily for most names, and bulls need to be cautious trying to buy dips.
The reason being, we are just looking for weekly lower highs on most names.
The bulls will need to regain the daily trend in their favor with higher lows and higher highs, in order to set a weekly higher low.
Many traders expect to drop back to test the BTC bottom, and shorts will comfortably be waiting to enter at hourly or 4 hour EMA resistance looking for a lower high.
I honestly am surprised the bulls held up so long after their failed bull break attempt.
Now we are back to consolidation on the daily for most names, and bulls need to be cautious trying to buy dips.
The reason being, we are just looking for weekly lower highs on most names.
The bulls will need to regain the daily trend in their favor with higher lows and higher highs, in order to set a weekly higher low.
Many traders expect to drop back to test the BTC bottom, and shorts will comfortably be waiting to enter at hourly or 4 hour EMA resistance looking for a lower high.
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