BTC is currently in a tightening pattern on the 4 hour chart after a rejection from the top of the bounce this morning.
We are now looking for a higher low to remain in this current 4 hour range, with a break likely coming later this evening.
I am still all cash and in no rush to enter a position. The dump this morning for $200 very quickly is a reminder the risk to reward is not favorable for bulls up here.
The bulls have been impressive the last 24 hours as I would have expected more consolidation at this point.
There are still trades to be made on bull breaks, they are jsut for flipping in my opinion.
If we continue to pull back, watch for 15 min RSI to hit mid 20s as a potential bounce flip entry point.
We are now looking for a higher low to remain in this current 4 hour range, with a break likely coming later this evening.
I am still all cash and in no rush to enter a position. The dump this morning for $200 very quickly is a reminder the risk to reward is not favorable for bulls up here.
The bulls have been impressive the last 24 hours as I would have expected more consolidation at this point.
There are still trades to be made on bull breaks, they are jsut for flipping in my opinion.
If we continue to pull back, watch for 15 min RSI to hit mid 20s as a potential bounce flip entry point.
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