BTC Bears with Another Leg Down
Not surprising to see another leg down as the last bounce attempt rejected 5 times from the top of the bounce.
The bounce just cooled off hourly and 4 hour RSI to give space for further downside.
EMA resistance on the 4 hour will be key for the bulls to look to shift momentum back in their favor.
Scouting for a daily higher low to form and give us a tightening equilibrium range.
Next support down is $6,000 as there is limited previous price level support.
Odds of a weekly bear flag will be favored as long as all the tops at $6,800 remain.
Risk to reward does not favor bearish entries down here for those late to the bear party.
The bounce just cooled off hourly and 4 hour RSI to give space for further downside.
EMA resistance on the 4 hour will be key for the bulls to look to shift momentum back in their favor.
Scouting for a daily higher low to form and give us a tightening equilibrium range.
Next support down is $6,000 as there is limited previous price level support.
Odds of a weekly bear flag will be favored as long as all the tops at $6,800 remain.
Risk to reward does not favor bearish entries down here for those late to the bear party.
Checkout our full trading resources online chartguys.com
Improve your TA with our free ebooks chartguys.ac-page.com/lp-all-ebooks?utm_source=tradingview&utm_medium=social
Improve your TA with our free ebooks chartguys.ac-page.com/lp-all-ebooks?utm_source=tradingview&utm_medium=social
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.