BTC Update! Bulls trying but have my doubts
Alrighty. Hope all enjoyed the weekend!
Jumping off last chart BTC was at $5600 and I was watching to see if we beat $5645 or not. If not, it was just a lower high and that is what we go with $5610 before pulling back down to $5410. From there we saw some pretty tight ranges and then a brief pop earlier today with a push to $5665. This was a slight bullish sign initially in that the bulls finally beat the prior resistance but the candle is a strong reversal candle to me on the 4 hour with the long upper wick. Bears quickly knocked price back down with price hitting $5457. If this holds, good news for bulls short term as they'd get their lower high and now push again for a higher high and start changing this trend. Unfortunately, based on the candlestick we had at $5665, I am personally leaning bearish here. If bulls can hold $5410, I'd still have some optimism but if that fails, I'll expect bears to take over again and continue the trend down.
Still nothing on the charts to have myself personally interested as I need to see some higher lows and higher highs coming in for the bulls to be convinced they are changing the trend back in their direction.
Just My 2 Sats!
Jumping off last chart BTC was at $5600 and I was watching to see if we beat $5645 or not. If not, it was just a lower high and that is what we go with $5610 before pulling back down to $5410. From there we saw some pretty tight ranges and then a brief pop earlier today with a push to $5665. This was a slight bullish sign initially in that the bulls finally beat the prior resistance but the candle is a strong reversal candle to me on the 4 hour with the long upper wick. Bears quickly knocked price back down with price hitting $5457. If this holds, good news for bulls short term as they'd get their lower high and now push again for a higher high and start changing this trend. Unfortunately, based on the candlestick we had at $5665, I am personally leaning bearish here. If bulls can hold $5410, I'd still have some optimism but if that fails, I'll expect bears to take over again and continue the trend down.
Still nothing on the charts to have myself personally interested as I need to see some higher lows and higher highs coming in for the bulls to be convinced they are changing the trend back in their direction.
Just My 2 Sats!
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