We used to see dumps, and bounces that led to tests of EMA resistance on the hourly and 4H charts. Now... we just trade sideways and wait for the EMA resistance to drop down and catch up to the price. This shows me a lack of bull buying.
Currently testing hourly EMA resistance and if we get over it, we will zoom out and watch 4H EMA resistance looking for a lower high to form.
Bears have no reason to cover at this point and I will remain on the sidelines until a break of $6,500 and daily oversold conditions, or a bullish trend change on the daily.
Currently testing hourly EMA resistance and if we get over it, we will zoom out and watch 4H EMA resistance looking for a lower high to form.
Bears have no reason to cover at this point and I will remain on the sidelines until a break of $6,500 and daily oversold conditions, or a bullish trend change on the daily.
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