Overnight the BTC bulls held the low of the dump and broke the high of the 4 hour resistance. We have not seen much follow through yet as we are testing 4 hour EMA resistances. If we get over those levels we will use the daily to be watching for a lower high to form.
The bullish play in this range is either bottom fishing $9,000 or waiting for a daily trend change. Remember if the 4 hour trend change does not get follow through, it is a potential daily bear flag.
The bears have had a lot of momentum but I personally am going to continue to give the bulls a chance to prove themselves defending this support. Essentially that just means preventing myself from falling into the "We are going to break $9k" mindset to ensure I am not biased enough to miss an opportunity if the bulls do hold on.
The bullish play in this range is either bottom fishing $9,000 or waiting for a daily trend change. Remember if the 4 hour trend change does not get follow through, it is a potential daily bear flag.
The bears have had a lot of momentum but I personally am going to continue to give the bulls a chance to prove themselves defending this support. Essentially that just means preventing myself from falling into the "We are going to break $9k" mindset to ensure I am not biased enough to miss an opportunity if the bulls do hold on.
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