BTC Size (of bounce) Matters
We currently have a temporary top on the daily being set, and daily consolidation to look for a higher low and attempt the clear trend change.
The size of the current 4H bounce will be very telling for either an equilibrium if the bounce is significant, or a lower high and potential lower low to see further daily consolidation take place.
With a significant bounce, bulls can look for an entry on the 4H higher low, using $7,220 as a stop. Bears are looking for the 4H lower high to top fish $7,689 resistance.
Happy holidays! Now I patiently wait for the next 24 hours to see what most likely scenario shapes up.
The size of the current 4H bounce will be very telling for either an equilibrium if the bounce is significant, or a lower high and potential lower low to see further daily consolidation take place.
With a significant bounce, bulls can look for an entry on the 4H higher low, using $7,220 as a stop. Bears are looking for the 4H lower high to top fish $7,689 resistance.
Happy holidays! Now I patiently wait for the next 24 hours to see what most likely scenario shapes up.
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