BCT Update! Is that all the bulls needed for consolidation?
Good morning!
Yesterday I was watching for the consolidation and ideally would love to have seen $3600-3700. Bulls held support down at $3775 and rode the 26 EMA for their support on multiple candlesticks. To say I am impressed is an understatement. I expected them to lose that support yesterday but bulls showed up with some nice volume and pushed back above 12 EMA. $4050 is current high over night with $4099, 4162, and 4175 offering all our highs and lower highs above.
I am personally still all cash and just not an ideal entry area for me here with my trading style. I'd like to see a bit more consolidation by the bulls otherwise I won't be convinced this was the daily chart consolidating with only one red day. Lets see what today brings and the holiday week brings. ETH has been pretty impressive with it already moving back to new highs from its lows with a 10%+ gain over the high from the other day where as BTC has been unable to do so. LTC also reached a new high just barely. This does have me leaning that BTC could follow suit and would then just be how much juice does the big guy have to go on a run. I likely will remain all cash today until a more favorable trade setup shows itself.
Just My 2 Sats!
Yesterday I was watching for the consolidation and ideally would love to have seen $3600-3700. Bulls held support down at $3775 and rode the 26 EMA for their support on multiple candlesticks. To say I am impressed is an understatement. I expected them to lose that support yesterday but bulls showed up with some nice volume and pushed back above 12 EMA. $4050 is current high over night with $4099, 4162, and 4175 offering all our highs and lower highs above.
I am personally still all cash and just not an ideal entry area for me here with my trading style. I'd like to see a bit more consolidation by the bulls otherwise I won't be convinced this was the daily chart consolidating with only one red day. Lets see what today brings and the holiday week brings. ETH has been pretty impressive with it already moving back to new highs from its lows with a 10%+ gain over the high from the other day where as BTC has been unable to do so. LTC also reached a new high just barely. This does have me leaning that BTC could follow suit and would then just be how much juice does the big guy have to go on a run. I likely will remain all cash today until a more favorable trade setup shows itself.
Just My 2 Sats!
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