Who will predominate in the H4 short term.
Bears are internally eating out the Bulls in the bearish pennant.
Bulls are trying hard to break out of the falling wedge but kept being pushed further by the bears.
The Bulls must defend the $8,200 or be devoured further by the Bears down toward $7,200.
I've laid out the support and resistance levels prices might go to for the short term.
Remember to always, always place your trailing stops at the appropriate levels.
Be prepared for either scenario.
Happy Trading Everyone.
Ron
Check out these still valid mid-term outlook for Bitcoin using:
Support and Resistance Lines
The Trend-Based Fibonacci Extension Tool
Elliott Impulse And Correction Waves
Bears are internally eating out the Bulls in the bearish pennant.
Bulls are trying hard to break out of the falling wedge but kept being pushed further by the bears.
The Bulls must defend the $8,200 or be devoured further by the Bears down toward $7,200.
I've laid out the support and resistance levels prices might go to for the short term.
Remember to always, always place your trailing stops at the appropriate levels.
Be prepared for either scenario.
Happy Trading Everyone.
Ron
Check out these still valid mid-term outlook for Bitcoin using:
Support and Resistance Lines
The Trend-Based Fibonacci Extension Tool
Elliott Impulse And Correction Waves
Note
We have price movement to the upside now. Note
Bullish Ascending Triangle
Note
We have movement to the upside. Warning! Watch out for FU moves.
Place your trailing stops.
Note
Price continues to move upwards as the Bulls take over dominance in the H4 Short Term.
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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.
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.