BTC Hourly Remains Tight

Dec 6, 2019

BTC is still ping ponging in a tightening range as a result from the "Bart" pump, sideways, dump, bounce previous couple days of action. This is showing up as multiple daily inside bars as well just under daily EMA resistance. I personally will not be playing a break of this range, as it is the bigger picture daily range that I am waiting for a break on. I find BTC has not had significant confidence in follow through of breaks on the shorter term time frames recently. Exhibit A is the hourly chart just breaking the lowest price seen in 18 hours, only to bounce right back into the middle of the range.

Power to the patient!