This morning we had a break of the triple bottom of support, in a 2 minute flush that then led to bulls buying the dip and defending support.
We are still watching 4 hour EMA resistance and lower highs for the bulls to prove they are going on offense to push the price up, rather than just defending support into further slow fading.
It is very clear for days now that bulls are defending support in this range.
A break of $3,569 the high of the bounce at this point, would be notable for a short term shift in momentum.
Otherwise bears keep control, and support will likely be tested again early this week.
We are still watching 4 hour EMA resistance and lower highs for the bulls to prove they are going on offense to push the price up, rather than just defending support into further slow fading.
It is very clear for days now that bulls are defending support in this range.
A break of $3,569 the high of the bounce at this point, would be notable for a short term shift in momentum.
Otherwise bears keep control, and support will likely be tested again early this week.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Checkout our full trading resources online chartguys.com
Improve your TA with our free ebooks chartguys.ac-page.com/lp-all-ebooks?utm_source=tradingview&utm_medium=social
Improve your TA with our free ebooks chartguys.ac-page.com/lp-all-ebooks?utm_source=tradingview&utm_medium=social
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.