BTC Bulls were able to bounce significantly after holding the daily higher low uptrend, but this did not result in a 4 hour trend change to give confidence in continuation.
Bears are sitting and waiting to pounce on the loss of support that would indicate further weekly consolidation is coming.
Changing this 4 hour trend is step 1 for us to be considering the bulls in my opinion.
Until then the bears have control of the short term action and we are still looking at $3,771 support to try and keep the daily higher lows.
Keep an eye on XRPUSD that daily chart cannot get much tighter, break imminent likely heading into the weekend.
Bears are sitting and waiting to pounce on the loss of support that would indicate further weekly consolidation is coming.
Changing this 4 hour trend is step 1 for us to be considering the bulls in my opinion.
Until then the bears have control of the short term action and we are still looking at $3,771 support to try and keep the daily higher lows.
Keep an eye on XRPUSD that daily chart cannot get much tighter, break imminent likely heading into the weekend.
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