Bulls have seen a very nice bounce from an oversold climax on the 4 hour chart.
We are still in a 4 hour downtrend and with declining volume the bulls are losing some momentum.
I believe in order to change the trend it will have to be an inverse head and shoulders.
Remember if the 4 hour trend changes, we zoom out to the daily and look for a lower high on that time frame.
Bears are looking to enter at EMA resistance for the 4 hour lower high.
I personally had a solid BTC bid at $7,411 which missed by about $16.
While it is a bummer, I lost $0 and I just sit back and wait for the next trade opportunity.
Remember, there is ALWAYS another trade out there in one market or another.
We are still in a 4 hour downtrend and with declining volume the bulls are losing some momentum.
I believe in order to change the trend it will have to be an inverse head and shoulders.
Remember if the 4 hour trend changes, we zoom out to the daily and look for a lower high on that time frame.
Bears are looking to enter at EMA resistance for the 4 hour lower high.
I personally had a solid BTC bid at $7,411 which missed by about $16.
While it is a bummer, I lost $0 and I just sit back and wait for the next trade opportunity.
Remember, there is ALWAYS another trade out there in one market or another.
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Improve your TA with our free ebooks chartguys.ac-page.com/lp-all-ebooks?utm_source=tradingview&utm_medium=social