Another quick update. Nothing jumping out for me to be bullish or bearish on a trade here so remaining all cash personally. I do see a potential 4 hour equilibrium shaping up as we have our low of the dump yesterday to $3508, a lower high at $3800, a higher low at $3563 and appears to be trying to put in another lower high at $3763 here. I'd like to see things tighten up a bit more with another higher low/lower high or two before it breaks. Would give some low risk entries for bulls and bears to both take on depending on the direction it broke. But for now, just something I'll keep an eye on. Needs to tighten up to get traders interested and not worried too much on a bear break with the bears getting follow through but would worry about a bull break and bulls having issues with follow through. Bulls just lacking confidence so tough to trust any type of bull break to not immediately get knocked down by bears.
Drew in some dashed lines for hypothetical to watch for into tonight and ideally even into early part of tomorrow if it can continue to tighten. Time will tell if anything comes of it.
Just My 2 Sats!
Drew in some dashed lines for hypothetical to watch for into tonight and ideally even into early part of tomorrow if it can continue to tighten. Time will tell if anything comes of it.
Just My 2 Sats!
