TheChartGuys

BTC Bears with Short Term Control

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
We saw a break of daily support last night, which has shifted the daily momentum.
The bulls are pleased there was not any significant follow through on the break, but it is clear the bulls are struggling a bit.
From here on most coins the bears have control as long as the 4 hour chart is setting lower highs. Step 1 is to change the 4 hour trend.
We are fading closer and closer to key support $6,106 on BTC and a battle at $6,000 is looming.
Bears are in comfortable positions where they can exit if the 4 hour trend changes and they give themselves the possibility for a break down under $6,000.
We will likely not see many shorts cover without seeing the daily resistances break for the bulls.
Personally all cash and patiently waiting for the daily and weekly charts to give more clear signals.
BCH USD H4 HIGH QUALITY BULLISH SETUP UP TO 40% UPSIDE
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BTC journey to 7k zones has begin. watch out for it

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low risk high reward play in BTC USD on H4, details see chart - with TP and SL.
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Knowing Bitcoin, an upside breakout would likely not happen before a dip -
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Totally agree!
Thanks for your unbaised view!

BTC Oct 3rd analysis. I discuss current no trade zone | ETH H&S forming | BTC 1h tf inverse c&h | Weekly bearish:
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