BTC very successful oversold bounce with lots of power behind it, and a 4 hour bull MACD cross.
We are now at a downtrend resistance line on the 4 hour the bulls are trying to close over to be looking back at the previous lower highs as resistance.
We have not seen a lot of consolidation on the way up so we are cautious if we start seeing hourly supports break.
Bulls are within striking distance of all time highs but they will have to see healthy consolidation at these levels, building a base of support, before looking to continuation.
Still "fork" fundamentals causing concern for many traders and investors who feel safer on the sidelines.
We are now at a downtrend resistance line on the 4 hour the bulls are trying to close over to be looking back at the previous lower highs as resistance.
We have not seen a lot of consolidation on the way up so we are cautious if we start seeing hourly supports break.
Bulls are within striking distance of all time highs but they will have to see healthy consolidation at these levels, building a base of support, before looking to continuation.
Still "fork" fundamentals causing concern for many traders and investors who feel safer on the sidelines.
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