TheChartGuys

BTC Hourly Bears Little Follow Through

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
We had an hourly double bottom break without much bear follow through and then led straight into a bounce. When I see action like this it tells me the bears are tiring and it now has me scouting for signs of a daily higher low. There is still a lot of work needed (4H trend change) to be confident the higher low has been set, but aggressive bulls are going to start bottom fishing recent supports. As a patient bull I will be keeping an eye on a good risk/reward entry I like, but not forcing anything as the likely result will just be a tightening daily range into the weekend.

Bears are still comfortable but they are also making not of the lack of bear follow through. 3 rejections from EMA12 resistance on the 4H chart yesterday is a guide for today's action.

ETHBTC trying to put in a daily trend change for the weekly higher low in the weekly equilibrium is also something to pay attention to this week.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out