BTC bulls ended the week with strength, and we are currently seeing healthy consolidation.
We are watching EMA12 support on the 4 hour for a potential higher low.
RSI levels are cooling off and resetting as we continue to see shorts cover.
The size of the pullback at this point makes a 4 hour equilibrium the most likely setup into tomorrow.
Continuing to keep an eye on volume as the bulls do not want to see any increasing bear volume on the longer term time frames.
I will likely put a stop under my partial position once the 4 hour support level is clear and we have followed through with some bounce off of it, which would be close to break even at these levels.
EMA 12 has not seen a bullish cross over EMA26 on the daily in about 2.5 months, and if we get another leg up we will likely see it happen.
We are watching EMA12 support on the 4 hour for a potential higher low.
RSI levels are cooling off and resetting as we continue to see shorts cover.
The size of the pullback at this point makes a 4 hour equilibrium the most likely setup into tomorrow.
Continuing to keep an eye on volume as the bulls do not want to see any increasing bear volume on the longer term time frames.
I will likely put a stop under my partial position once the 4 hour support level is clear and we have followed through with some bounce off of it, which would be close to break even at these levels.
EMA 12 has not seen a bullish cross over EMA26 on the daily in about 2.5 months, and if we get another leg up we will likely see it happen.
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