BTC 4 Hour EMA Resistance Brick Wall

23 בנוב׳ 2018

BTC continues to see small bounces, leading to lower highs and rejections from 4 hour EMA resistances.
The bulls held the low of the dump last night, though some exchanges like Bitfinex did not.
The bears are extremely comfortable on the 4 hour time frame and have no reason to cover...
yet we have seen 3 days of shorts covering. This leads to the possibility of shorts piling back on for another leg down.
When the 4 hour trend changes we will zoom out and look for a daily lower high to be set.
Some alt coins broke bear first, giving insight into the more likely continued bearish action on BTC.
IF we see a 4K flush, there are lots of traders waiting for that to be the dip to buy.