BTC 4 Hour EMA Support Intact
Bulls still keeping full control of the bounce at this point with EMA 12 support after it was rejecting the price on the way down.
Currently forming a 4 hour inside bar to be watching this morning. Volume dropping off.
We are watching EMA 12 resistance on the daily, and the need for a higher low and higher high to be confident our weekly higher low is set.
Increasing bear volume and loss of EMA support on the 4 hour would be a red flag, though not game over for the bulls.
There are many tops in the $7,660s that have to break for this bounce to be for real on the daily chart.
Those in are comfortable with stops below the recent low, and those looking to enter are patient for a daily higher low on the daily.
Bulls need to see a solid green candle on the daily to confirm the reversal candle from yesterday.
Currently forming a 4 hour inside bar to be watching this morning. Volume dropping off.
We are watching EMA 12 resistance on the daily, and the need for a higher low and higher high to be confident our weekly higher low is set.
Increasing bear volume and loss of EMA support on the 4 hour would be a red flag, though not game over for the bulls.
There are many tops in the $7,660s that have to break for this bounce to be for real on the daily chart.
Those in are comfortable with stops below the recent low, and those looking to enter are patient for a daily higher low on the daily.
Bulls need to see a solid green candle on the daily to confirm the reversal candle from yesterday.
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