After rejecting from $740 3 times on the 4 hour chart, the bulls broke it last night and only held it as support for a few minutes.
We saw stop buys trigger and flash the price to $746 before immediately falling back below it.
It will be notable today if bulls can hold this level as support.
4 hour EMA 12 and 26 support and bull cross following through, and the bulls on the daily do not have the same EMA resistance like BTC.
Looking for the potential of a daily equilibrium to form once the bulls top out on this bounce as there is a wide range to trade within.
Lead bull Sunday, but slowed down yesterday as BTC and LTC played a little catch up.
Loss of hourly higher lows would be a red flag for bulls.
Currently cash and patient waiting for a more clear and favorable risk v. reward setup.
We saw stop buys trigger and flash the price to $746 before immediately falling back below it.
It will be notable today if bulls can hold this level as support.
4 hour EMA 12 and 26 support and bull cross following through, and the bulls on the daily do not have the same EMA resistance like BTC.
Looking for the potential of a daily equilibrium to form once the bulls top out on this bounce as there is a wide range to trade within.
Lead bull Sunday, but slowed down yesterday as BTC and LTC played a little catch up.
Loss of hourly higher lows would be a red flag for bulls.
Currently cash and patient waiting for a more clear and favorable risk v. reward setup.
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