TheChartGuys

BTC 4 Hour Trend Change or Bust

COINBASE:BTCUSD   Bitcoin
BTC is still trying to confirm the inverse head and shoulders but bulls have to keep it real... SO FAR this has been a disappointing bounce with a lack of follow through. Step 1 is break the 4 hour lower highs, and from there the trend change for the first time in over a week is essential.

I am still in my half position from $6,555 that have have been a bit loose with as it is only risking profit at this point. I have put my stop under the recent low $6,850 from here as my line in the sand for bulls to hold for the day.

Remember bears have absolutely no pressure on them as long as 4 hour lower highs are the norm. If we were to see bears keep control, I would not be interested in re-entries until the low $6,000s to play off that previous support zone.

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