Last week was a small win for bitcoin bulls as they managed to set weekly higher low. As we noted this win was not very convincing, and hence didn't lead to much upside. In order to strengthen their position bulls needed to set daily higher low (HL) near range value area to confirm daily uptrend (UT). This happened yesterday but for some reason bulls were unable to protect their achievement, and day ended as an outside bar.
At this point none of the sides has clear advantage and it is best to stay away and observe. The best short term strategy is to play monthly range
At this point none of the sides has clear advantage and it is best to stay away and observe. The best short term strategy is to play monthly range