Bulls saw nice follow through overnight, with a nice hourly higher low and higher high pattern. Bulls are trying for continuation on the daily with confirmation of the bull flag. Break of $9,090 is the goal for the next two days to get resistance out of the way. Bulls need to keep hourly higher lows intact to see this 4 hour bull cross through. Currently in a position from the $8400-8300s entered on the hourly consolidation and hold of EMA 12 and 26 hourly supports. I will exit if hourly higher lows are broken today. Time for bulls to prove the strongest bounce we have seen on this pullback, with a daily higher high.
Reading this from the UK the following day (morning to me) and things look somewhat different. It feels like Groundhog Day to me. Please could you give your thoughts on the volume we are seeing. I’ve the assumption price isn’t strongly supported at this level and we may head back down, possibly to a double bottom around 6k or one one of the support levels in the $7,200 - $7,800 area which may trigger a bounce of larger volume and clear the cluster of overhead resistance (50EMA, downtrend channel & previous support levels) Just my thoughts.
NestorBarajas
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Hello, @TheChartGuys, do you have a stop limit in place? If so, at price? Any help would be great! Thank you!
LongLee
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hi so when BTC BREAK 9090$ we need to sell ?
Altcoin_Hero
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@LongLee, If $9090 gets broken we should see bitcoin going further up. To sell or not depends on wether you are long or short.