BTC Update! Tightening range. Bulls desperately trying to defend
Yesterdays chart we were watching the expected tight range of $11,0888-11,585 and potential setup for a small equilibrium. We traded within that range all day and really have traded within a 3.5-4% range for 40 hours now. Volume slows down and really just nothing of interest to traders. We established a lower high yesterday it appears at $11,456 and now this morning dipped down to $11,158. Bulls continue to desperately try and defend 11k so I am now watching this tightening range between $11,158-11,456 with continued expectation that 11k will cave. As always, have a plan for either direction. If bulls can step up and get us back above 11.5k then I'd personally look at some scaled in entries on any consolidation from there.
We were also watching EMA resistance on 4 hour chart and EMA support on daily chart yesterday. Both are still in tact but bulls struggling to hold daily EMA support currently. As this range tightens up, I do expect a break today or tomorrow so will keep a watch on volume as well.
Just My 2 Sats!
We were also watching EMA resistance on 4 hour chart and EMA support on daily chart yesterday. Both are still in tact but bulls struggling to hold daily EMA support currently. As this range tightens up, I do expect a break today or tomorrow so will keep a watch on volume as well.
Just My 2 Sats!
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