After the 4 hour equilibrium bull break, we are seeing follow through and a clear hourly uptrend. As long as these hourly higher lows hold, the bulls have full control of the bounce. Lose the hourly higher lows and we zoom out to the 4 hour chart to look for a higher low to form. Bulls need to get back to the $6,700s to get to the middle of the weekly equilibrium range, so we still need another 5% follow through. Bears will keep the odds in their favor much more significantly unless the bulls can recover to this level. Keeping an eye on shorts levels as well as the ETF decision approaching at the end of the month. Hold onto your hats, as anticipated things are looking like they will get interesting within the next month with a spike in volatility and volume. Until then we observe for clues as to which direction is most likely. Newer traders are patiently waiting for longer term signals.
Btw - I zoomed out to monthly timeframe, and noticed that BTC-USD respected the middle BB (20) support of $6111 quite well and bounced from $6116. Do you think that will be deciding factor whether it breaks it or moves away from it in near weeks?
CryptoManiac101
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UnknownUnicorn3500618
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any comments on my chart
TheAlphaTrades
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ETF decision short setup
Here's my BTC analysis for Sept 13. I discuss the resistance of 6600-6700 | Descending trend line | TD + Ichi signals | ETF setup | Shorts stacked | Overall macro downtrend:
TradeClass
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I went to the SEC web site and there is NO hearing date set for the big ETF decision that everyone has been waiting for. And it is GOOD if the ETF decision is moved forward because it is going to fail anyway. If anyone has news to what happened (was it moved forward again?)
MommedeGraaff
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@TradeClass, is there normally always a date set? i mean how certain can you be it will be postponed with this info
TradeClass
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@MommedeGraaff, because the SEC web site is NOT FAKE NEWS. If it isn't on their calendar, it isn't happening.
Btw - I zoomed out to monthly timeframe, and noticed that BTC-USD respected the middle BB (20) support of $6111 quite well and bounced from $6116. Do you think that will be deciding factor whether it breaks it or moves away from it in near weeks?