BTC Update! Bulls seeking continuation
Jumping off last chart, I was watching to see if BTC would get above the EMAs and then see rejection at bottom of original area we had been tradining within. We saw the move above EMAs and quickly rejected right at bottom of our prior trading range (shaded area). BTC then pulled back and found support along the 12 EMA so all was healthy and we then saw continuation for a re-test of the same box. Briefly rejected again but bulls were able to give some follow through. At this point we have re-entered within that original box but bulls struggling to stay within it. If they are unable to, will want to see the bulls hold EMAs for support and maintain a higher low for the 4 hour chart. Watching $6202 and $6293 most closely for support. I personally did scale into some positions on the consolidation here to see if bulls can get another higher high. Thus far nothing too impressive by the bulls and really need to see the break out above $6500 and an eventual re-test towards low $6800's. But bulls did manage to hold $6200 for support and keep the bears from re-testing 6k which is a positive.
Just My 2 Sats!
Just My 2 Sats!
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