We currently are consolidating in a healthy way and testing hourly EMA support.
When we break a support level on a certain time frame and do not get any follow through for the bears (after a solid move up for bulls) I zoom out and look for a bull flag on a longer term time frame.
In this instance we saw an hourly lower high and lower low that currently has no follow through.
There have been little clues of BTC bullish sentiment, GBTC premium increasing yesterday with a significant bull move, and XRP and BCH leading the charge for the bulls.
I currently am in a BTC and ETH position using 4 hour higher lows as a stop level, and if we see another leg up I will just set my stops at break even and try and hold for a weekly break.
Note BCH is the only major name that has changed its trend on the weekly. Bulls still have work to do!
When we break a support level on a certain time frame and do not get any follow through for the bears (after a solid move up for bulls) I zoom out and look for a bull flag on a longer term time frame.
In this instance we saw an hourly lower high and lower low that currently has no follow through.
There have been little clues of BTC bullish sentiment, GBTC premium increasing yesterday with a significant bull move, and XRP and BCH leading the charge for the bulls.
I currently am in a BTC and ETH position using 4 hour higher lows as a stop level, and if we see another leg up I will just set my stops at break even and try and hold for a weekly break.
Note BCH is the only major name that has changed its trend on the weekly. Bulls still have work to do!
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