Ok, last chart we discussed the bulls getting above our zone we've had outlined for months on 4 hour chart but zooming out to bigger picture of the weekly chart. We were watching to see if the weekly just set another lower high and anything lower than $10,540 was just another lower high on our weekly chart. Bulls got to $9195 and are currently trending back down. Tentatively it does appear $9195 may be the lower high for weekly so nothing has changed bigger picture...yet. Bulls would now need a higher low compared to $6430 and then shoot for higher highs. Very manageable here. The 4 hour chart losing its EMA support is first sign I watched for to say this weekly is setting its lower high but the Daily chart (not pictured) is actually holding EMA support still. If daily loses EMA support it will confirm the lower high on weekly for myself. There is nothing wrong with a lower high on weekly and it is what was expected. Would ideally like to see bulls hold $8k to give a very comfortable higher low and then seek to push back up above $9200 and ideally towards $10k. Overall healthy consolidation thus far and no red flags for the bulls.
Just My 2 Sats!
Just My 2 Sats!
