BTC Update! 4 Hour gets another higher low!
Yesterday we were watching to see where the pull back would land. Another 4 hour higher low or the bears taking us back to new lows.
Bulls managed to hang on and set another 4 hour higher low which is great news. They then saw some follow through over night/early morning and finally got above the EMAs on 4 hour again.
If you zoom out to the daily, well its still not too impressive and still about $150-200 away from EMA resistance on the daily. But it is a start.
I personally did make a play here but went alt coin route. I played BNB over on Binance as it was leading the way the past couple of days compared to BTC. I entered on consolidation where it was already about 4 hour EMAs and entered seeking EMA to then hold as support. I have scaled out 25% of position and the remainder I am using 4 hour higher lows there for a stop loss just to protect capital. Attaching photo of that trade here for reference. Happy to see bulls get a little follow through and now will be patient to see if they can get some momentum rolling or if bears are just preparing to reload their shorts.
Just My 2 Sats!
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.