BTC 4 Hour EMA Resistance Brick Wall
BTC continues to see small bounces, leading to lower highs and rejections from 4 hour EMA resistances.
The bulls held the low of the dump last night, though some exchanges like Bitfinex did not.
The bears are extremely comfortable on the 4 hour time frame and have no reason to cover...
yet we have seen 3 days of shorts covering. This leads to the possibility of shorts piling back on for another leg down.
When the 4 hour trend changes we will zoom out and look for a daily lower high to be set.
Some alt coins broke bear first, giving insight into the more likely continued bearish action on BTC.
IF we see a
4K flush, there are lots of traders waiting for that to be the dip to buy.
The bulls held the low of the dump last night, though some exchanges like Bitfinex did not.
The bears are extremely comfortable on the 4 hour time frame and have no reason to cover...
yet we have seen 3 days of shorts covering. This leads to the possibility of shorts piling back on for another leg down.
When the 4 hour trend changes we will zoom out and look for a daily lower high to be set.
Some alt coins broke bear first, giving insight into the more likely continued bearish action on BTC.
IF we see a
4K flush, there are lots of traders waiting for that to be the dip to buy. 
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