BTC Update! 4 hour lower high, higher low and then bull break!
Jumping off yesterdays chart we saw the pattern the bulls needed!
Yesterday I posted: "They are currently back and battling the $6400 area. In order for the bulls to regain the upper hand, they need to form a lower high compared to $6655, a higher low compared to $6320 and then look for the higher high"
From there we saw the bulls travel to $6537 to give the lower high compared to $6655. We then saw them drop back to $6425 to give the higher low compared to $6320. The safe bull entry would now be a break above $6537 for a quick 3% pump in 20 minutes. Our next resistance area is up at $6777 and then $6823. Bulls ideally want to see a brief consolidation sideways here to flag out and then bull break towards $6800's. I highlighted the lines in pink for now that will eventually be removed just to show those unfamiliar with how higher/lower highs/lows work.
I am still keeping same weekly chart as previously posted with $7403 as our true lower high to beat. If the bulls fail to get above $6823 on this move and we drop back down, that would potentially become our new lower high on weekly.
BTC continues to follow technical analysis beautifully with extremely low risk entries for quick and easy profits despite the overall 2018 market being bearish. My strategy for 2018 remains, protect that capital, continue to scalp the quick profits and just accumulate more capital this way for the eventual return of a bull market.
Just My 2 Sats!
Yesterday I posted: "They are currently back and battling the $6400 area. In order for the bulls to regain the upper hand, they need to form a lower high compared to $6655, a higher low compared to $6320 and then look for the higher high"
From there we saw the bulls travel to $6537 to give the lower high compared to $6655. We then saw them drop back to $6425 to give the higher low compared to $6320. The safe bull entry would now be a break above $6537 for a quick 3% pump in 20 minutes. Our next resistance area is up at $6777 and then $6823. Bulls ideally want to see a brief consolidation sideways here to flag out and then bull break towards $6800's. I highlighted the lines in pink for now that will eventually be removed just to show those unfamiliar with how higher/lower highs/lows work.
I am still keeping same weekly chart as previously posted with $7403 as our true lower high to beat. If the bulls fail to get above $6823 on this move and we drop back down, that would potentially become our new lower high on weekly.
BTC continues to follow technical analysis beautifully with extremely low risk entries for quick and easy profits despite the overall 2018 market being bearish. My strategy for 2018 remains, protect that capital, continue to scalp the quick profits and just accumulate more capital this way for the eventual return of a bull market.
Just My 2 Sats!
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