BTC Update! Stair Stepping Down. EMAs resistance
Quick update. BTC clearly struggling to get any bull momentum and is slowly just stair stepping its way down. As stated last chart, really do not want to see BTC return towards our $7500 support area we were watching for quite some time to be tested. We had the test and it held and gave the nice bull trade but if bulls allow for a re-test again, I would not be as optimistic in it holding again.
Bears are just slowly driving price back down here and EMAs serving as a nice guide for resistance on any bull attempts. We see the bull pops here and there but without follow through, bears climb right back into positions and continue this slow grind down. Bulls need to see the pop back above EMAs and then see the follow through towards the stair steps going up. Otherwise these lower highs just continue to pile on and keep the bears very comfortable in positions or adding to positions.
Just My 2 Sats!
Bears are just slowly driving price back down here and EMAs serving as a nice guide for resistance on any bull attempts. We see the bull pops here and there but without follow through, bears climb right back into positions and continue this slow grind down. Bulls need to see the pop back above EMAs and then see the follow through towards the stair steps going up. Otherwise these lower highs just continue to pile on and keep the bears very comfortable in positions or adding to positions.
Just My 2 Sats!
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