BTC is giving us a perfect equilibrium which will either dictate a bear break and daily consolidation, or a bull break and continuation.
I personally have a stop set on the rest of my position to trigger if we get the bear break.
We would also likely lose the 4 hour EMA 12 support for the first time on this move, as well as an hourly EMA 12 and 26 bear cross with a bear break as well.
We are anticipating healthy daily consolidation to form a higher low, and volume will be a big factor to determining how healthy it is.
Bears are looking for a potential entry on the break of this pattern, but with a bull break anyone entering should be thinking very short term in my opinion due to the daily chart being extended on the bounce.
I personally have a stop set on the rest of my position to trigger if we get the bear break.
We would also likely lose the 4 hour EMA 12 support for the first time on this move, as well as an hourly EMA 12 and 26 bear cross with a bear break as well.
We are anticipating healthy daily consolidation to form a higher low, and volume will be a big factor to determining how healthy it is.
Bears are looking for a potential entry on the break of this pattern, but with a bull break anyone entering should be thinking very short term in my opinion due to the daily chart being extended on the bounce.
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