BTC Contained Pullback Continues
A nice pattern where each lower low does not get much follow through, and there are 5% bounces for the lower highs to form.
This is the kind of pattern that when it reverses will more likely be an inverse head and shoulders than a big dump and V-shaped capitulation recovery.
BTC still has not formed a low on the daily chart, and we are getting close to the over extended scenario that had us play the first drop on the 4 hour.
We are on day 6 of a lower high every day, and I expect that pattern to break within the next day or two.
Currently in a small ETH position and if we were to drop another leg down I would enter more substantial positions in ETH and BTC.
Bears are also comfortably playing the lower highs , and hourly EMA resistance has been a nice guide for the sustained consolidation.
This is the kind of pattern that when it reverses will more likely be an inverse head and shoulders than a big dump and V-shaped capitulation recovery.
BTC still has not formed a low on the daily chart, and we are getting close to the over extended scenario that had us play the first drop on the 4 hour.
We are on day 6 of a lower high every day, and I expect that pattern to break within the next day or two.
Currently in a small ETH position and if we were to drop another leg down I would enter more substantial positions in ETH and BTC.
Bears are also comfortably playing the lower highs , and hourly EMA resistance has been a nice guide for the sustained consolidation.
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