Follow up on the previous video, BTC bulls saw the hourly descending triangle (shown here on the 4 hour chart) break bullish. After the break, we zoom out and see that a 4 hour lower high is likely to form on that bull move.
Now we are watching to see, can the bulls hold support and break to a higher high, changing the 4 hour trend back to the bulls, or do we fade back and break support for a lower low and further daily consolidation.
Note the top of the bounce rejected from 4 hour EMA resistance, which are key levels to watch today as well.
The next day or two of consolidation will be very telling as to whether or not we will see the daily trend change confirmed with continuation.
Now we are watching to see, can the bulls hold support and break to a higher high, changing the 4 hour trend back to the bulls, or do we fade back and break support for a lower low and further daily consolidation.
Note the top of the bounce rejected from 4 hour EMA resistance, which are key levels to watch today as well.
The next day or two of consolidation will be very telling as to whether or not we will see the daily trend change confirmed with continuation.
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