BTC Still low volume and weak, unable to get over EMA 12 on the 4 hour.
The volume is dropping off the last two days and likely to see a daily volume spike in the next two days for a clear break.
Bulls want a move to test the high of the bounce, bears want a move to test the recent lows.
This is a low volatility trading environment that does not favor short term traders, so we must hold off from giving away money forcing trades.
The bears are much more comfortable setting stop above the lower highs on the 4 hour, while the bulls doing the same with supports are much less comfortable.
Bulls are not proving anything and the lack of any bulls aside from the few hours after the SEC news is notable.
The volume is dropping off the last two days and likely to see a daily volume spike in the next two days for a clear break.
Bulls want a move to test the high of the bounce, bears want a move to test the recent lows.
This is a low volatility trading environment that does not favor short term traders, so we must hold off from giving away money forcing trades.
The bears are much more comfortable setting stop above the lower highs on the 4 hour, while the bulls doing the same with supports are much less comfortable.
Bulls are not proving anything and the lack of any bulls aside from the few hours after the SEC news is notable.
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