Dump to lower lows last night that has not resulted in much of a bounce at this point.
Bulls are battling hourly EMA resistance, and if we see another leg up on the bounce we will be looking at 4 hour EMA 12 resistance.
Everyone is looking for potential capitulation but these lazy bounces are an indication that is not the case yet.
Better % opportunity on bounces by the likes of ETH and alts with more volatility.
For now my thought process is:
Break hourly EMA resistance? Zoom out to 4 hour
Break 4 hour EMA resistance? Zoom out to daily
Break daily EMA resistance? Now I am more interested as a bull.
Also significant bull volume would catch my attention.
Bulls are battling hourly EMA resistance, and if we see another leg up on the bounce we will be looking at 4 hour EMA 12 resistance.
Everyone is looking for potential capitulation but these lazy bounces are an indication that is not the case yet.
Better % opportunity on bounces by the likes of ETH and alts with more volatility.
For now my thought process is:
Break hourly EMA resistance? Zoom out to 4 hour
Break 4 hour EMA resistance? Zoom out to daily
Break daily EMA resistance? Now I am more interested as a bull.
Also significant bull volume would catch my attention.
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