BTC bulls broke the daily inside bar bullish, but did not hold up for very long.
In the video yesterday I discussed the hourly would show a red flag if the bulls could not keep the uptrend after the bull break.
The first red flag was the lack of follow through breaking this level... this means bulls are not setting stop buys and bears are not covering their positions.
The 2nd red flag was the size of the pullback. It was not brief and healthy like a bull flag.
The 3rd and biggest red flag was the little hourly bear flag. The weak bounce attempt and continuation down.
Now we are back into the trading range we have been inside for 3 days and there is a lack of clarity as to short term direction.
Remain patient and picky as traders, and when fighting the trend, be quicker to take profit.
In the video yesterday I discussed the hourly would show a red flag if the bulls could not keep the uptrend after the bull break.
The first red flag was the lack of follow through breaking this level... this means bulls are not setting stop buys and bears are not covering their positions.
The 2nd red flag was the size of the pullback. It was not brief and healthy like a bull flag.
The 3rd and biggest red flag was the little hourly bear flag. The weak bounce attempt and continuation down.
Now we are back into the trading range we have been inside for 3 days and there is a lack of clarity as to short term direction.
Remain patient and picky as traders, and when fighting the trend, be quicker to take profit.
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Improve your TA with our free ebooks chartguys.ac-page.com/lp-all-ebooks?utm_source=tradingview&utm_medium=social