Just flipped BTC bullish mid writing this up, scaled in under $7k and scaled out over $7k for a little win to start the day.
We are seeing all kinds of stop losses trigger as the initial dump took out 3 of the 4 hour higher lows at once.
Hourly RSI plummeted to the teens and 4 hour RSI got right to 31.
We are clearly seeing a momentum shift going on while the bulls will still try and hold the daily higher low at $6,790.
Watching for a 4 hour lower high to be set on a bounce, and if we see continuation down after that we are likely to lose the daily uptrend.
This will then give us confidence our weekly lower high is set at $7,400.
Bears loving the dump on ETH, weekly inside bar break and loss of daily higher lows leading to the bear flag.
Patient... as we continue to wait for the weekly pattern to tighten.
We are seeing all kinds of stop losses trigger as the initial dump took out 3 of the 4 hour higher lows at once.
Hourly RSI plummeted to the teens and 4 hour RSI got right to 31.
We are clearly seeing a momentum shift going on while the bulls will still try and hold the daily higher low at $6,790.
Watching for a 4 hour lower high to be set on a bounce, and if we see continuation down after that we are likely to lose the daily uptrend.
This will then give us confidence our weekly lower high is set at $7,400.
Bears loving the dump on ETH, weekly inside bar break and loss of daily higher lows leading to the bear flag.
Patient... as we continue to wait for the weekly pattern to tighten.
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