BTC saw a pump last night that only lasted about 10 minutes in terms of the significant part of the move.
Since then we have consolidated for 9 hours giving some of the move back.
This is still healthy consolidation on the 4 hour and even a potential bull flag.
Bulls are trying to hold the back test of 4 hour EMA supports.
We are still in a 4 hour lower high pattern but the bulls are saving the tightening daily chart.
As described in the video yesterday the current BTC setup on the daily is a bit of a grey area, while names like ETH and XRP have a much more clear daily equilibrium.
I personally am still viewing this as a daily equilibrium due to the patterns of those other names.
Bulls need another leg up to change trends on the 4 hour chart.
Since then we have consolidated for 9 hours giving some of the move back.
This is still healthy consolidation on the 4 hour and even a potential bull flag.
Bulls are trying to hold the back test of 4 hour EMA supports.
We are still in a 4 hour lower high pattern but the bulls are saving the tightening daily chart.
As described in the video yesterday the current BTC setup on the daily is a bit of a grey area, while names like ETH and XRP have a much more clear daily equilibrium.
I personally am still viewing this as a daily equilibrium due to the patterns of those other names.
Bulls need another leg up to change trends on the 4 hour chart.
Checkout our full trading resources online www.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