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.
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.
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